By AbdulRaheem Aodu
Kaduna
The Managing Director, Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), Malam Aliyu Abdulhameed, has said that Vicampro Potato Processing Company, when operational will save Nigeria the sum of $200 million annually as import substitute for French fries, potato flakes and potato biscuits.
Speaking during the ground breaking ceremony for the establishment of the farm in Manchok, Kaura
Local Government Area of Kaduna state, NIRSAL boss said that the potentials in the potato processing industry are huge, as it is the 4th most important crop in the world with multi-billion dollars global demand for its products.
Aliyu noted that China export processed potato products worth $28billion annually just as Nigeria spends over $200 million to import potato products like French fries. He said the start of an initial $120million investment by Vicampro into the potato processing industry in Kaduna is proof of the strong agriculture and industry focus of Governor Nasir el-Rufai’s economic strategy and the high level of confidence the private sector has in his leadership.
NIRSAL boss said: “As the MD of NIRSAL, an organization whose core aim is to ensure flow of finance from financial institutions to impactful projects in the agriculture value chain, I find this project highly inspiring.
“The historic role that Vicampro is playing in opening up the potato processing industry that is worth over N900billion and the massive economic benefits for the country in terms of food security, import substitution, job creation and economic diversification are all key objectives of the agriculture promotion policy of the government.
“Countries like China export processed potato products worth $28billion annually. Sadly like in several other cases, we spend over $200 million annually to import potato products popularly called French fries.This is a shameful paradox that we must stop!
“Nigeria enjoys a strategic
