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Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria - Business - Nairaland

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Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Rossphinki: 3:32am On Apr 17



A team of technocrats and business development partners under the auspices of Zealhosts Project Bolt Consortium is to invest 500 million dollars into the cassava manufacturing industry in Nigeria.

Dr Tony Bello, Chairman of Shine Bridge Global and Zealhosts Consortium Partner made this known in a statement on Friday.

He said the private sector investment would be channeled through a programme known as ‘Project Bolt’ to speedily achieve the desired result.

The consortium partners included, Zealhosts Consulting Services, Berwick Agro, ALTS Consulting, H2AFoods Nigeria, and U.S.-based food and agribusiness advisory service companies, Shine Bridge Global with the support of AfricaGlobal Schaffer.

Bello said the investors were delighted to have entered into a strategic Public Private Partnership with the Federal Ministry of Industry, Trade and Investment.

According to him, the goal is to work together toward revitalisation of the food and beverage industry in Nigeria.

“As a team of technocrats and business development partners in Nigeria and the U.S. we are focused on industrialisation of cassava into functional food ingredients for the manufacturing of consumer packaged goods in Nigeria.

“Not only Nigeria but for export to regional West African and to North American and European markets as well.

“We want to thank President Muhammadu Buhari for his visionary leadership of the Economic Sustainability Plan and support of the National Industrial Plan and the Zero Oil Plan of the FMITI under the leadership of Mr Niyi Adebayo, minister for Industry, Trade and Investments.

“We have worked with the minister, Adebayo, the Permanent Secretary, Dr Nasir Sani Gwarzo and the Director of Industrial Development, staff of the ministry to design the terms of engagement and scope of work under the Industrial Cassava Manufacturing Program of the ministry,” he said.

Bello explained that six private sector partners in Nigeria and the U.S had been engaged to ensure the successful implementation of Project Bolt.

According to him, like Usain Bolt, speed is of essence in the programme implementation; we have completed innovation of new food products such as snacks, crackers, shawarma and pizza crust made from cassava.

“Together we shall tackle the issues of unemployment, create jobs for our youths, women and smallholder farmers in Nigeria.

“We commit to over 750,000 new direct and indirect jobs in the implementation of Project Bolt and we are present in six states and looking to expand to a minimum of 10 States in food manufacturing in Nigeria,” he said.

Bello commended Buhari’s efforts in moving Nigeria forward toward economic diversification through food and agricultural industrialisation.

He said the investors had come to provide technical and business leadership to the food and agribusiness sector through co-investments in manufacturing.

He said the investors would apply global food safety initiatives and export market promotions to drive import substitution and Forex earnings.

https://www.pulse.ng/business/local-foreign-consortium-to-invest-dollar500m-in-cassava-processing-in-nigeria/lw7zfdy

1 Like

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Nobody: 3:44am On Apr 17
Goodnews! This is what we want.

Please, check my signature

3 Likes

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by GoldHorse(m): 3:58am On Apr 17
I hope there is plan to massively help cassava farmers increase their production capacity or is it from the already scarce, unreliable and very fluctuative cassava market they are going to get the millions of tons needed to feed this mega project?

Some years ago gari shot up from being the default common man food saviour to a status of almost competing with beans and plantain just because of this same reason of the government wanting to run before they can walk.

14 Likes 3 Shares

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by bigcil2(m): 4:37am On Apr 17
Farming

1 Like

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Mrentertainer(m): 4:48am On Apr 17
Ok

1 Like

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by BUSHHUNTER: 4:49am On Apr 17
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by DarkCaesar(m): 4:50am On Apr 17
Even at this, our youths won’t still want to go into agro.....half already on the fast lane and the other half contented earning peanuts from their useless white collar jobs

2 Likes

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by aseyi24: 4:50am On Apr 17
Invest now borrowed later
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by AmigoDeDon(m): 4:50am On Apr 17
We wait and see.
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Seniorwriter(m): 4:57am On Apr 17
Hope it's a long term approach!

Deep Quote
The End usually justifies the means

@Seniorwriter
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Eriokanmi: 4:59am On Apr 17
Yes look. Na the future oyel be dat. Join us!
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by flames01: 5:00am On Apr 17
The problem is that buhari's brothers will destroy the farms and all the efforts will amount to zero.

Buhari said people should go back to the farm, but he never kept his ravaging brothers in check. His words are synonymous with speaking from both sides of the mouth.

9 Likes 1 Share

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Andyvilly: 5:18am On Apr 17
a welcome development, all able youths graduate or not should farm.
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by mainkendo: 5:19am On Apr 17
grin
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by aremuforlife(m): 5:39am On Apr 17
This is where we need the state executives to start lobbying for their part in this project. Clear thousands land for cassava cultivation.
The local governments and state governments need to start opening the rural area for business.

3 Likes

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by GreaterFuture3: 5:39am On Apr 17
Good one
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by OnlyDeCapPlease(m): 5:48am On Apr 17
Rossphinki:


https://www.pulse.ng/business/local-foreign-consortium-to-invest-dollar500m-in-cassava-processing-in-nigeria/lw7zfdy

I hope this is not just another eleborate scam. The biggest scammers in this country are govt technocrats. So much big grammar and promises backed by big money which somehow finds its way to offshore accounts and Dubai properties.

2 Likes

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by OkCornel(m): 6:04am On Apr 17
Good news mehn!

Nigeria needs more of this good news to boost our morale and collective hopes for the future.

We can make things work if we want to.
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Myself2(m): 6:11am On Apr 17
GoldHorse:
I hope there is plan to massively help cassava farmers increase their production capacity or is it from the already scarce, unreliable and very fluctuative cassava market they are going to get the millions of tons needed to feed this mega project?

Some years ago gari shot up from being the default common man food saviour to a status of almost competing with beans and plantain just because of this same reason of the government wanting to run before they can walk.



The whole essence is to increase the capacity of the farmers, from farm size to improved species to mechanisation to better farming processes and inputs, all these will guarantee increased yield per farm and harvest per farmer

1 Like

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by ceaser: 6:37am On Apr 17
It's a good initiative. But sadly Nigeria may happen to it sooner or later.

Nigeria is policied to destroy dreams and kill companies especially when it becomes apparent that the benefit will be more to the southern part of the country. Our politicians are experts in infanticide.

Ask Gokada and other budding companies that have been killed.

DarkCaesar:
Even at this, our youths won’t still want to go into agro.....half already on the fast lane and the other half contented earning peanuts from their useless white collar jobs

People went for farming enmasse at the start but when Fulani herdsmen epidemic took over and farmers crops were getting destroyed or the farmers themselves getting killed, people retired back to their homes for their safety.

Remember that medical doctor from Igangan who came from Germany to his hometown to establish farms that created about 250 employments? He was murdered in cold blood by fulanis (Iskilu wakill and the seriki Fulani) because he complained about their grazing their cattle on his farm.

Now he is dead and his investment destroyed. People that were gainfully employed then have been thrown back into unemployment.

Ghana and Benin Republic thru their genderems had foresight when they insisted that no Fulani herdsmen should be allowed on their lands or near their territories. Now they enjoy oeac and prosperity while Nigeria that gave fulanis easy passage is in distress.

3 Likes 1 Share

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by adecz: 6:38am On Apr 17
I hope the president will not
say that they should take the
industry to Katsina.. cool cool cool
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Mikelarteta(m): 6:39am On Apr 17
How do I go into this business and does anyone knows the ROI on it? Was just reading about it yesterday somewhere
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by DuBLINGreenb(m): 6:45am On Apr 17
Una go chop cassava tire

The Kain hardship coming on the horizon, this people have seen it on time and decided to profit from it. The only thing most people will be able to afford is water and cassava or garri so gear up

1 Like

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by cooooooks(m): 7:03am On Apr 17
Every year or so, this kind of announcement is made.

Cassava processing is useless if we, ordinary people, can't export.

If these products are not part of the global flour/starch supply chain, we are just wasting newsprint.

3 Likes 1 Share

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Duplexxx: 7:04am On Apr 17
Why foods are very expensive in Nigeria
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by Jungleluv5: 7:29am On Apr 17
I pray we are not going to buy a Kongo of Gari for 1K instead of 150 naira

1 Like 1 Share

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by NTPGARRIfactory(m): 7:44am On Apr 17
Mikelarteta:
How do I go into this business and does anyone knows the ROI on it? Was just reading about it yesterday somewhere

A very welcome development.
You want to invest in cassava farming? See our signature.
Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by DivineDynamics: 8:04am On Apr 17
This is a good move.

Let us live right in the ways of the Lord Jesus.

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by cobsol(m): 8:09am On Apr 17
How market today my brothers and sisters? ok lets motivate ourselves to greatness through the problemfix.org platform. follow them on twitter @problemfix1

Re: Local, Foreign Consortium To Invest $500m In Cassava Processing In Nigeria by DarkCaesar(m): 8:31am On Apr 17
ceaser:
It's a good initiative. But sadly Nigeria may happen to it sooner or later.

Nigeria is policied to destroy dreams and kill companies especially when it becomes apparent that the benefit will be more to the southern part of the country. Our politicians are experts in infanticide.

Ask Gokada and other budding companies that have been killed.I couldn’t agree less, this would have been better with a sane administration in power



People went for farming enmasse at the start but when Fulani herdsmen epidemic took over and farmers crops were getting destroyed or the farmers themselves getting killed, people retired back to their homes for their safety.

Remember that medical doctor from Igangan who came from Germany to his hometown to establish farms that created about 250 employments? He was murdered in cold blood by fulanis (Iskilu wakill and the seriki Fulani) because he complained about their grazing their cattle on his farm.

Now he is dead and his investment destroyed. People that were gainfully employed then have been thrown back into unemployment.

Ghana and Benin Republic thru their genderems had foresight when they insisted that no Fulani herdsmen should be allowed on their lands or near their territories. Now they enjoy oeac and prosperity while Nigeria that gave fulanis easy passage is in distress.

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