Blumberg Grain is working with the Nigeria’s Minister of Agriculture to make the country a hub for grain storage and cold storage in Africa.
The investment will provide logistics for agricultural purposes.
The project is estimated to cost $250 million. This was confirmed by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala.
The minister also added that the World Bank and the IMF had agreed to create a Social Protection Programme to address the issue of growth and job creation for Nigeria and some other developing countries at the bottom end of the development ladder. “We just announced our rebased Gross Domestic Products (GDP). The rebase is stronger, it was well received, it elicited a lot of interest among participants and also private sector people, who came to say they were interested in investing,” she said.
The biggest focus is on the global recovery and what needs to be done for the countries at the bottom of the ladder to either strengthen their position and make sure that whatever the circumstance, they are able to prevail and come out with a strong economy.
While the recovery of various economies is on, it is unavoidably slow.