By Nafisat Makinde
The European Africa Chamber of Commerce and Industries (EACCI) announced plans to invest over $300 million in Nigeria’s agricultural sector. According to Amb. Dr. Kingsley Obasohan, Director General of EACCI, the investment will focus on establishing a ranch and cocoa production in Nigeria between June and December 2025.
“We’re looking at an investment of $200 million in ranching alone because this is a huge business in Nigeria, and we’ll also invest in fisheries,” Amb. Dr. Obasohan said.
The investment is part of EACCI’s efforts to contribute to national economic development in Nigeria through investment in the country’s agricultural sector. EACCI is also working with an agency of government to set up a ranch in Nigeria, creating jobs for teeming Nigerian youths and women.
“We are equally working with the Federal and State Governments to support the youths through vocational and skills acquisition towards making them self-reliant and employers of labour,” Amb. Dr. Obasohan said.
“The current administration is actually trying, but the truth is that they can still do more, especially in the area of agriculture, which is supposed to be the biggest employer of labour,” Amb. Dr. Obasohan added. “What President Bola Tinubu’s led administration needs to do is to put in place necessary economic-friendly policies and effective regulatory policies in the system that can support a lot of people, most especially small-scale business owners.”
