The North West Development Commission said it has begun the process to sign Memorandum of Understanding (MoU) for a
$200m deal to drive agriculture development and commercial farming with a bid to overhaul the region’s entire value chain.
The tripartite pact involves the Commission, Shanghai Integrated Infrastructure Development Limited and Pearless Advisory Limited.
According to the partners, the plan will empower local farmers with modern technologies to boost yields, stimulate the livestock sector, and position Nigeria as a major player in global livestock production.
Presenting the MoU document at the Commission’s office in Abuja over the weekend, the Managing Director/Chief Executive Officer of the NWDC, Professor Shehu Abdullahi Ma’aji said the initiative aligns with President Bola Tinubu’s directive to unlock the region’s agricultural potential.
He added that the Commission would strengthen collaboration with development partners to maximise opportunities. “We want to unlock the potential opportunities we have in the region.
“So the North West Development Commission is pleased to announce its commitment in partnering with Shanghai. Shanghai is coming with a volume of money to invest in agriculture and agricultural sectors in general, to add value to all sectors of agriculture.”
Prof. Ma’aji said the Commission’s target was to ensure that citizens benefit from Federal Government’s efforts to improve livelihoods.
“We have a population of about 50 million in the North-West, and we have seven states, and we have about 7 million youths roaming about the street.
“So, we want to convert them into wealth using agricultural extension workers, by providing them with skills in agric activities.
“So coming with this huge amount of money, we’re going to use it judiciously, we’re going to use it transparently. We’re going to use it with accountability. So, we want to tell the general public that integrity is our watchword, and then transparency and honesty, sincerity to display to our partners,” he said.
He also assured prospective investors of an enabling environment. “Federal government is willing to give some concessions to make sure that businesses are encouraged and they are motivated.”
“So the signing of this MOU signifies the commencement of what we are looking for, almost a trillion Naira within this period of time to show the president that we are really serious, and we are not going to disappoint him,” he said.
Speaking on the next move on the document, Prof. Ma’aji disclosed that the Commission’s legal team would review the document and advise on execution.
“We are very sure that within two weeks from now, the signing of the Memorandum of Understanding will be concluded,” he assured.
Speaking for the partners, Managing Partner, Pearless Advisory Limited, Kunle Dawodu, commended the NWDC for opening its doors to collaboration, noting that the project would focus on commercial and smart farming.
“It’s a pleasure to work with you, particularly on the MoU. We look forward to a final execution and getting it to final fruition, particularly with regards to commercial farming.
We are looking at smart farming. It is not just going to be mechanised farming. We are going to bring in the latest cutting-edge technology out of China into the North West Development Commission, because we see the North West Development Commission as the perfect partner.
When it comes to youth population, land mass, agric products, cash crops, and even livestock, you are the perfect partner,” Dawodu said.
He added that the benefits would extend beyond the partners and the Commission.
“We can assure that it will not just be beneficial to us and the commission, but to the country as a whole, with regards to food security and non-oil export potential,” he said.
The Commission said the planned $200m investment is expected to catalyse activities from primary production to processing and market access, with a particular push in livestock, even as it moves to convert youth energy into productive agribusiness ventures.
