Kwara
Nigeria
Sector
Agriculture & Agri-processing
Investors have the opportunity to invest in the growing and processing of rice in Kwara State, situated in central Nigeria.
Investment Opportunity
Local production cannot meet Nigeria’s large demand for rice and the country spends massive amounts to import the commodity. Investors will therefore find a viable market for rice.
Singapore-based Olam International has shown its faith in Kwara State’s agriculture sector by investing in a rice mill for which land has already been allocated. Olam will also sponsor an outgrowers scheme through which the company will buy rice from local growers. Various other companies such as the Stallion Group, Notore Chemical Industries Limited and the Dutch Agricultural Development and Trading Company have invested in rice production in other parts of the country. Nigeria’s huge demand for rice however means there is plenty of room for more investors to come in.
Kwara State has vast areas of arable land and the state government is encouraging large scale commercial agriculture projects. A few years ago the government invited a group of Zimbabwean farmers to start with modern commercial farming in the state, a project which have proved to be a huge success.
Reasons to Invest in Kwara State
Incentives: The Kwara State Government is willing to extend a number of incentives to serious investors. These include the provision of land and infrastructure, tax holidays and assistance with obtaining financing.
Labour: Kwara State is home to the well-respected University of Ilorin and construction of the new Kwara State University will soon be completed. Kwara State therefore has a large number of graduates who can be employed by companies investing in the state.
Cargo terminal: A new cargo terminal at the Ilorin International Airport will soon be completed and will allow for goods to be transported via air, both locally and internationally.
Power supply: Due to the recent completion of the Ganmo sub-station, the state capital, Ilorin, currently enjoys very close to 24 hours a day of uninterrupted power supply. Many business owners are delighted by the fact that they have to make very little use of generators.
Political will: The government of Kwara State is devoted to creating an enabling environment for business and investment. The state is also committed to continuity of policies which will ensure that an investor friendly environment remains even after the end of the current administration's tenure.
Investment insurance: Nigeria is a member of MIGA (Multilateral Investment Guarantee Agency) and the ICSD (International Centre for Settlement of Investment Disputes).
For further information on investment opportunities in Kwara State contact TradeInvestNigeria at infonigeria@gan.co.za
