Nigeria: Diaspora Community to Invest in Tomato, Ginger Farming in 7 States

A diaspora group plans to invest in tomato and chilli/pepper, ginger, leather and garment agricultural value chain in Kano, Kaduna, Plateau, Ogun, Oyo, Lagos and Abia states.

This is contained in a GIZ and Nigeria Competitiveness Project (NICOP) report on potential diaspora investments in Nigerian agricultural value chains like in tomatoes, ginger and chilli. The report was conducted on their behalf by Nextier Advisory.

According to them, the West Africa Competitiveness Programme (WACOMP), funded by the European Union aims to support several selected value chains at the national and regional levels to promote structural transformation and better access to regional and international markets while considering social and environmental concerns.

The program’s primary objectives are to strengthen West African countries’ competitiveness and enhance their integration into the regional and international trading system (WACOMP 2020).

“This study focuses on the Finance pillar of the programme. It seeks to find traditional and innovative finance sources for the selected value chains in tomato (and chilli/pepper), ginger, leather and garment.

“The focus states are Kano, Kaduna, Plateau, Ogun, Oyo, Lagos, and Abia states. The channeling of investment from the diaspora is one of the innovative finance sources that NICOP has highlighted with high potential for the selected value chains.

“This study aims to map out options to channel Diaspora investment by reviewing similar initiatives, engaging the diaspora community and relevant organisations and developing a tool kit to facilitate the channeling of remittances to the selected value chains.