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Join on Telegram Rabat – Nairametrics, a Nigerian financial information firm, this week reported details about various investments in Nigerian and African businesses through USAID. One of the investments was made to OCP Nigeria Fertilizers, a subsidiary of Morocco’s OCP group.
The firm specializes in the production of phosphate-based fertilizers. The $1.4 million investment in the firm was with the goal of installing modern equipment for blending in one of its facilities under construction in Kaduna, a city in North Nigeria.
According to Nairametrics’ interview with Acting Chief of Party for the West Africa Trade & Investment Hub (TradeHub) Karl Littlejohn, the USAID funded organization invested in 38 partnerships this year, 15 of which were in Nigeria.
TradeHub has become an attractive partner in Nigeria’s agricultural industry, according to the Country Manager for OCP Africa, Caleb Usoh.
“Trade Hub has a lot of experience working with smallholder farmers in Nigeria and Africa as a whole,” Usoh told Nairmetrics.
OCP Africa, a subsidiary of Morocco’s OCP Group, has been expanding in Nigeria, with its main specialty being fertilizer production, trials, and education. The company has also been involved in different fields of agricultural research.
For instance, OCP has been involved in wheat research to boost Nigerian farmers’ productive output through new fertilizers as well as other means. Experts estimate that these efforts can eventually lead to a yield increase of more than 450,000 metric tonnes and farmers seeing more income for every hectare starting next year.
With African economies quickly growing and Nigeria in particular being one of the largest economic powerhouses in the continent, investors all over the world will be looking to get involved even more in the country and its steadily growing agricultural sector.
