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Firm plans N1.6bn shea butter factory in Niger

By BusinessNews Staff on July 11, 2014

In a bid to fully commercialise shea butter in the country, a private company has agreed to invest over N1.6bn in the establishment of a shea butter factory in Mokwa, Niger State.

The state Director General, Investment, Alhaji Ahmed Kontagora, who disclosed in Minna on Thursday, said the state’s contribution to the project was the release of 20 hectares of land to the firm.

Addressing journalists, the Director General said the government and the firm would sign the Memorandum of Understanding on the project next week while actual construction would begin thereafter.

He said the ground breaking ceremony for the project had been fixed for November this year while its inauguration would hold early in 2015.

Kontagora said on completion, the factory would engage about 10,000 people and generate over N10m monthly, which he said would boost the economy of the state.

He added that the choice of Mokwa for the location of the factory was as a result of its location, which would make movement of raw materials and the finished product easy.

In the meantime the Director General, One Stop Investment Centre, Alhaji Hamza Bello, has revealed government’s plan to upgrade and develop some markets in the state to put them in position of generating more money to the administrations at all levels.

Bello told newsmen that the state was losing well over N160m monthly from improper management of markets, apart from the hazards traders were exposed to daily.

[Punch]

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