Rivers signs MoU with Israeli firm for farm village

Channels Television  
Updated August 2, 2012

The Rivers State government has reaffirmed its determination to make agriculture one of the main thrust of the state’s economy by signing of a Memorandum of Understanding (MOU) for a multimillion Naira 2,000-hectare Farm Village with an Israeli firm-LR Group Limited.

At the signing ceremony which took place in Port Harcourt, the Rivers state capital, the state governor Chibuike Amaechi expressed his desire to rapidly develop an agro-based economy that would compete favourably with the oil industry in the State.

The governor reaffirmed his administrations quest to pursue this vision hinged on three sectors of education, agriculture and information communication technology (ICT).

Mr Amaechi told the Israelis that the farm was another novel attempt by the state to build on its successes, since the facility would have an industrial processing plant.

He expressed the hope that when it takes off, it would provide jobs for the people and further attract more investment opportunities for the State,

According to him, Nigeria’s huge population guarantees a ready large market for investors in the agricultural sector.

Speaking, the Director of LR Group, Mr. Ami Lustig described the agreement signing as landmark, since it marks the first investment the company is making in Nigeria.

He noted that the company was attracted to Rivers State due to the numerous recommendations made by people after consultations on where to invest in agriculture in Nigeria.

The new farm settlement according to Lustig would be run on Israeli middle Class farming system, and he assured that it would lead to the transfer of agro-based technology to the state as well.