US Group To Invest 50 million Dollars In Nigeria Agriculture

A group of US investors have indicated their intention to invest 50 million dollars in Nigeria's agricultural sector that has been receiving attention from the government as part of efforts to diversify the nation's oil-based economy.

The privately owned Guardian newspaper reported Friday that Gebreyes Begns, president of the US-based Allied International Marketing Company, unfolded the investment proposal during a meeting with the president of the Manufacturers Association of Nigeria (MAN), Rufus Giwa.

Begns said that the proposal was prompted by the need to revive the agricultural sector, considering the low level of export from Nigeria to the US.