A major multinational conglomerate, the Lee Group, has announced plans to invest $35 million in agricultural projects to enhance value addition as part of efforts to boost the economy of Nasarawa State.
Wilkins Lam, the Lee Group’s Project Director, who led a delegation on a visit to Governor Abdullahi Sule at the Governor’s Lodge in Abuja, said the investment would mainly focus on rice, sugarcane, sesame, and peanut production, alongside processing facilities
The Group’s Project Director noted that the company had conducted extensive feasibility studies in Nasarawa State following a Memorandum of Understanding (MoU) signed in 2024.
According to Lam, the Group plans to develop 5,000 hectares of rice farmland, including a modern rice mill and irrigation infrastructure, at a cost of $15 million, to establish a sugar factory with an investment of $20 million, complementing its existing sugarcane plantation in Jigawa State, as well as expand into sesame and peanut production, leveraging high-yield seed varieties to boost output.
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“This is just the beginning. We are committed to long-term investments in Nasarawa State, and we appreciate the governor’s support. The first thing that we will do is to deploy a team of professionals to do a comprehensive feasibility study on which type of crop would be most suitable in the area,” he stated.
Responding, Governor Abdullahi Sule, who has consistently prioritised investment attraction since assuming office, expressed enthusiasm about the partnership and described it as a transformative opportunity for the State.
The governor commended the Lee Group for its commitment to Nigeria’s agricultural sector and compared the company’s impact to that of industry giants like Flour Mills of Nigeria.
He pointed out that revenue to be generated from agriculture far outweighs revenue even from oil and gas.
He emphasised the State’s vast agricultural potential, particularly in sugarcane production, citing it abundant water resources from the Deb, Ribi, Mada, and Benue Rivers, as well as the Farin Ruwa Dam.
“If I had your vision and resources, I would invest in sugarcane first. Nigeria’s sugar demand is enormous, with a 50kg bag now selling for N80,000. The market extends beyond Nigeria to neighboring West African countries. With 30,000 hectares of land, no refinery can compete with you”, Governor Sule told the delegation.
The governor then pledged to accompany the Lee Group team on an inspection tour of potential sites, and to ensure a seamless acquisition process, to facilitate community engagement and to expedite necessary approvals.
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“We want to go beyond meetings, beyond payments. Where Nasarawa State has to come in and invest in the payment of certain things, we are willing to do that so that we can attract a big company like the Lee Group to come and start doing the work and we move forward.
“In fact, if I know the day you are holding the meeting, I won’t mind attending that meeting so that we can hurry up and finish with all the paperwork so that they can come on ground.
“We are ready to move beyond meetings. Where the state needs to contribute, we will do so to ensure this project succeeds,” he said.
Mohammed Umar Maje, the Lee Group’s Director of Agriculture, highlighted the company’s innovative rice variety, which yields 10 tons per hectare, far above Nigeria’s average of 2-3 tons.
Maje, further explained that, the variety also regenerates after harvest, reducing replanting costs and that the group’s high-oil-content peanut variant (6-7 tons per hectare) and plans for a sesame processing hub are also key components of the investment.
Mahmoud, the legal adviser to the Lee Group, commended Nasarawa State’s business-friendly policies, noting that the State had become a model for investment in Nigeria.
“Nasarawa State is setting the pace for economic development. The Lee Group’s investment will create thousands of jobs and stimulate growth across the agricultural value chain,” the Legal Adviser said.
Ibrahim Abdullahi, the Managing Director/CEO of the Nasarawa State Investment Development Agency (NASIDA), recalled that the Lee Gruop earlier indicated interest to invest in Nasarawa State during the 2024 investment summit.
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“Lee Group needs no introduction in this country and has investments across the country from the South up North. We are very delighted that they have come in to invest in Nasarawa State.
“Your Excellency, thanks to your vision and your bold reforms in the business environment in Nasarawa State. A proposed site has been identified in the Doma Local government, measuring 5000 hectares. This is to start the initial investment.
“An initial community engagement was carried out by our team and those from the lands at the Palace of the Andoma of Doma. The communities involved are looking forward to the investment as led by the paramount ruler, the Andoma of Doma.
“Some time next week, Your Excellency, we are going back for the second community engagement and by then the feasibility would have been completed and all the communities and villages in the area would also be identified in this exercise,” he added.
With this landmark investment, Nasarawa State is poised to strengthen its position as a leading agricultural and industrial hub in Nigeria, creating employment opportunities and boosting food security in the region.
