NIGERIA Invest in 2012-13 - Newsdesk Media

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112 OIL, GAS AND MINERALS The new Lekki Free Trade Zone has already attracted more than a hundred foreign and domestic investors The CBN estimates that Nigeria is host to more than 40 million hectares of arable land, but less than 60 per cent of it is cultivated. Moreover, fertiliser use per hectare stands at around 10 kilogrammes, compared to a global average of 150 kilogrammes. Despite such vast agricultural potential, Nigeria’s food import bill stood at N25 trillion ($154 billion) in 2010 – N356 billion ($2 billion) of which was spent on importing rice. Decades of neglect has condemned the country to the status of a net food importer, when it should be Africa’s biggest net food exporter. Investments in agriculture Nigeria’s food self-sufficiency drive, which began under former president Olusegun Obasanjo, has accelerated markedly under Jonathan, and is now witnessing substantial new investments in agricultural extension, increased fertiliser production, a significant expansion in rice-milling facilities, and the development of new agro-processing industries. The development of free trade zones will benefit manufacturing output INvESt IN NIGERIA 2012-13 In addition, the CBN has also earmarked $500 million in new lending to the agricultural sector, aimed at helping to unlock more than $3 billion in new private-sector lending to agriculture over the next decade. Lending to agriculture currently accounts for two per cent of total lending – compared to six per cent in Kenya. The CBN wants that figure to more than triple to seven per cent by 2020. At present, Nigeria boasts a mere 30,000 tractors to work more than 40 million hectares of land. No other statistic captures the scale of the sector’s past neglect – or the opportunity that now exists to radically transform the country’s agricultural potential. Like most other emerging markets, Nigeria has attempted to augment its manufacturing output through the development of free trade zones – of which there are some 24 currently in operation, admittedly with mixed success. More recently, however, it has succeeded in attracting the attention of China, Saudi Arabia and India, who are spearheading substantial investment into two new free trade zones designed to boost Nigeria’s manufacturing output. Nigeria and China are currently developing the new Lekki Free Trade Zone on the eastern edge of Nigeria’s commercial capital, Lagos. The $5 billion, 3,000-hectare, first phase of the development – which seeks to reduce the country’s dependence on imported products – has already attracted more than 100 foreign and domestic investors, including Chinese electronics, pharmaceutical and heavy machinery firms, which are eager to build production and assembly facilities in the zone. The proposed new Koko Free Trade Zone in Delta State, which is backed by a joint venture between the Nigerian National Petroleum Corporation and Saudi Arabia’s Xenel to build a new petrochemical plant, along with plans by India’s Nagarjuna Chemicals to build three new fertiliser plants, represents a significant break with the past. The Lekki and Koko projects are major investments that seek to reverse decades of decline in manufacturing. They are indeed ambitious. But they also represent a mark of confidence in Nigeria’s long-term future by industry leaders who have a proven track record in developing effective free trade zones. ■
HEAD OFFICE POWER GENERATION TRANSMISSION AND DISTRIBUTION WATER TREATMENT BUILDING SERVICES (MEP) INDUSTRIAL KNOW-HOW Abuja Plot 699, Aminu Kano Crescent, Wuse II, FCT Abuja, Nigeria Tel.: +234 (0)9 461 1362 Fax: +234 (0)9 461 1364 Lagos 269B Kofo Abayomi Street, Victoria Island, Lagos, Nigeria Tel.: +234 (0)1 271 4167 Fax: +234 (0)1 271 4168 BUILDINGS CONSTRUCTION energo@hyperia.com www.energonigeria.com
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Invest in NIGERIA 2012-13 Published
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Mubadala is an investment and devel
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Invest in NIGERIA 2012-13 Editor La
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Trade Facilitation/Development Init
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Contents Forewords 16 21 The Policy
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44 Promoting free and fair election
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120 Industrial Infrastructure 124 1
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16 FOREWORD Goodluck Ebele Jonathan
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Ahmadu Bello University, Zaria, Nig
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since 1989 Rotary kiln incinerators
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Pushing boundaries An emerging lead
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24 the policy agenda Realising Nige
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Foreign policy and the investment e
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28 the policy agenda prospects of l
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www.nosakgroup.com Corporate Offi c
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32 the policy agenda Democracy and
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Sustainable business, social repons
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36 the policy agenda There is no do
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38 the policy agenda Working to ach
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40 the policy agenda they had sexua
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42 the policy agenda “The improve
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44 the policy agenda Promoting free
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46 the policy agenda The April 2011
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48 the economy and finance Nigeria
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Murphy Shipping…………Bridging
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52 the economy and finance has been
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Since 1994, Nigeria Inter-Bank Sett
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56 the economy and finance Facts an
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58 the economy and finance petroleu
Page 61 and 62: Driving growth through Mobile Money
Page 63 and 64: elevating the country to the upper
Page 65 and 66: Zenith Bank plc Zenith Bank was est
Page 67 and 68: the economy and finance 67 Public r
Page 69 and 70: Improving Nigeria’s electricity n
Page 71 and 72: supply of electricity, though, will
Page 73 and 74: oil, gas and minerals 73 Nigeria’
Page 75 and 76: aBc Human development consultants l
Page 77 and 78: oil, gas and minerals 77 The decisi
Page 79 and 80: Empowering Nigeria Seven Energy Int
Page 81 and 82: Reliable partner in NIGERIA JASCON
Page 83 and 84: Crude oil exports by destination, 2
Page 85 and 86: The leading indigenous suppliers of
Page 87 and 88: DrillPet International Limited (DIL
Page 89 and 90: Step on the gas The Nigerian Gas Ma
Page 91 and 92: The original GMP proposed a gas inf
Page 93 and 94: Find out more at www.oriental-er.co
Page 95 and 96: To encourage the participation of l
Page 97 and 98: NEITI: the Nigerian Extractive Indu
Page 99 and 100: Cakasa (Nigeria) Company Limited St
Page 101 and 102: The government has ambitious plans
Page 103 and 104: Potential for growth The Nigerian g
Page 105 and 106: Oil and the Niger Delta Nigeria’s
Page 107 and 108: Shell estimates it has an additiona
Page 109 and 110: High Voltage transmission sending s
Page 111: Despite being rich in natural resou
Page 115 and 116: former university academic addresse
Page 117 and 118: Although efforts to bring electrici
Page 119 and 120: www.ilf.com ILF - Engineering Excel
Page 121 and 122: of one gigawatt coal-fired power pl
Page 123 and 124: © 2012 Caterpillar All Rights Rese
Page 125 and 126: The National Economic Development P
Page 127 and 128: Vehicle imports General cargo Conta
Page 130 and 131: Engineering & Construction STEMCO,
Page 132 and 133: 132 INDUSTRIAL INFRASTRUCTURE Suppo
Page 134 and 135: 134 INDUSTRIAL INFRASTRUCTURE One o
Page 136 and 137: 136 SOCIAL INFRASTRUCTURE Populatio
Page 138 and 139: 138 SOCIAL INFRASTRUCTURE Tackling
Page 140 and 141: 140 SOCIAL INFRASTRUCTURE the chanc
Page 142 and 143: 142 SOCIAL INFRASTRUCTURE Healthcar
Page 144 and 145: 144 SOCIAL INFRASTRUCTURE Obstetric
Page 146 and 147: 146 agriculture and water Growing t
Page 148 and 149: Electrical, Mechanical, Civil, Wate
Page 150 and 151: 150 agriculture and water sesame an
Page 152 and 153: Siat Group Investment Company in Tr
Page 154 and 155: 154 agriculture and water The devel
Page 156 and 157: 156 media, tourism aNd culture A ri
Page 158 and 159: 158 media, tourism aNd culture The
Page 160 and 161: 160 MEDIA, TOURISM AND CULTURE A ci
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162 MEDIA, TOURISM AND CULTURE Top
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164 DIRECTORY Government ministries
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166 DIRECTORY Tel: 236 0521, 236 05
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168 DIRECTORY United States of Amer
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170 Index of advertisers Aero .....
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ffordability - innovation eliabilit
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