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Investors commit $159m to revolutionise Nigeria’s cassava, oil palm value chains
Fayus Group, in collaboration with Shine Bridge Global (SBG) and Africa Global Schaffer (AfGS), are investing $159 million in Nigeria’s oil palm and cassava value chains over three years.
The Chairman of Fayus Group, Alhaji Fatai Yusufu made this known in a statement issued on Sunday, after a virtual meeting to launch the company’s $159 million oil palm and cassava industrialisation investments.
Alhaji Yusufu said that Fayus had committed an additional $44 million in cassava processing, to bring the total investment commitment in the sector to $159 million.
“Fayus Nigeria Limited and Fayus Inc. (U.S) are also working with U.S.-based food and agro-allied services companies, Shine Bridge Global (SBG) and Africa Global Schaffer (AfGS), to co-invest in the cassava value chain in Nigeria”.
CaliforniaUnited-statesSacramentoMalaysiaNiger-deltaNigeria-generalNigeriaFayuGuizhouChinaGodwin-obasekiAdeola-odedinaYusufu said that Fayus had committed an additional $44 million in cassava processing, to bring the total investment commitment in the sector to $159 million.
“Fayus Nigeria Limited and Fayus Inc. (U.S) are also working with U.S.-based food and agro-allied services companies, Shine Bridge Global (SBG) and Africa Global Schaffer (AfGS), to co-invest in the cassava value chain in Nigeria.
“Fayus has committed an additional $44 million investment towards the cassava industrialisation program for a total investment of $159 million in oil palm and cassava value chains over three years,’’ he said. Yusufu explained that Fayus’ investments in Edo include a 200 hectares pilot oil palm plantation, two nurseries, dams, roads, irrigation systems, and other infrastructure assets totaling over $15 million.
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