Bloomberg reports that an unnamed Turkish investor is to start up a $250 million export zone in Nigeria. Called the Badeggi Crop Processing Zone it is expected to start in June next year. It will be cited in Niger State in Northern Nigeria.
Government sources say
the facility will process more than 750,000 metric tons of crops including rice, maize, yam, cassava, groundnuts and peas for export per year.
It is not yet known if the products are to be exported exclusively to the Turkish market.
The crops will be transported to Nigeria’s seaports from the nearby Baro inland port on the Niger River. That should boost inland maritime activities.
I look forward to a smooth start of this project. But I hope it doesn’t lead to food scarcity in the economy.