Niger, firm sign multimillion dollar irrigation pact
The Niger State Government has entered into a partnership with CBM Developments Company Ltd, an agriculture development company that specialises in irrigation development, for the irrigation of 50,000 hectares. At a ceremony which had Governor Mohammed Bago in attendance, the agreement was signed by CMB Development’s Chairman, Ms Telia Urey, and the Executive Chairman of […]
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The Niger State Government has entered into a partnership with CBM Developments Company Ltd, an agriculture development company that specialises in irrigation development, for the irrigation of 50,000 hectares.
At a ceremony which had Governor Mohammed Bago in attendance, the agreement was signed by CMB Development’s Chairman, Ms Telia Urey, and the Executive Chairman of Niger Foods, the state-owned agricultural development vehicle, Mr Sammy Adigun.
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The irrigation project, The Niger Irrigation Infrastructure Advancement Scheme, will be executed by CMB Developments, a company that represents Alkhorayef Group, a Saudi Arabian conglomerate in Nigeria.
The project will be funded by the Saudi EXIM Bank and Nexim Bank through a credit line that was extended to NEXIM in November, 2023.
Niger Foods has a strategic plan of establishing 25 farm estates, starting with 10,000 hectares per local government area. The state’s agricultural firm plans to create between 250,000 and 5,000,000 hectares for production, aggregation, processing, conditioning and storage in all the local government areas of the state.