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Nigeria Seeks Economic Diversification in Agriculture Push

Nigeria's agriculture ministry has attracted $8 billion in foreign investment and aims to boost that to just over $10 billion by 2015, the country's minister of agriculture said this week.Akinwumi Adesina told The Wall Street Journal that the country is seeking to boost investment in agriculture as part of a drive to diversify Nigeria's economy away from oil and gas, and to create more jobs and food security in the process.Indonesian fertilizer company Indorama will invest $2.5 billion in new fertilizer plants, Mr. Adesina said on a visit to South Africa for the World Economic Forum on Africa. Dangote Group, run by Africa's richest man, Nigerian Aliko Dangote, is investing $3.5 billion in what Mr. Adesina says will be Africa's biggest fertilizer plant.Major multinational agri-businesses are also moving in. Two weeks agao, the government approved a plan by Cargill Inc. to use cassava starch to make a sweetener that will be sold to Coca-Cola and Heineken, Mr. Adesina said.He added agri-b...

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