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Why agribusiness foreign investors shun Nigeria – Dangote

Stories by David Agba Abuja

Th e insecurity across Nigeria especially the rising cases of kidnapping is the reason foreign investors in the agribusiness subsector are not coming to Nigeria, the Chief Executive Offi cer of Dangote Group, Aliko Dangote, has said.

Mr. Dangote said this yesterday at the ongoing 6th edition of the 2017 AgrikExpo and NABG Conference in Abuja while speaking on the ‘Challenges Facing Agribusiness Investors in Nigeria.

’ Th e billionaire industrialist was represented by the Executive Director, Stakeholder Management and Corporate Communications of Dangote Industries Limited, Mansur Ahmed.

According to Mr.  Dangote, the wave of kidnapping along the Kaduna-Abuja Expressway has caused investors who own commercial farms to abandon them for fear of being kidnapped or attacked.

“Th e security situation in the country is discouraging agribusiness investors.

Most of the people that own large farms on the Kaduna-Abuja Road have abandoned their farms due to the menace of kidnapping.

” He also traced the problems faced in accessing land by agribusiness investors to the Land Use Act, and said that if the Act was not revisited, it will obstruct the eff ectiveness of thediversifi cation of the economy from oil to agriculture.

Mr.

Dangote blamed government at all levels for lack of cooperation with and protection of investors in the agricultural sector.

He said there is no synergy in the inter-governmental relationships to enhance performance and productivity by the sector.

He therefore urged that government at all levels should begin to work together, where necessary, on a practical approach, especially on securing land for commercial agriculture.

“Agriculture cannot thrive in this country, except there is cooperation between all the agencies of government.

Intergovernmental cooperation is lacking in terms of galvanizing the kind of support that investors need in the sector,” he said.

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