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LAKAJI Summit in Nigeria launches investment in agribusiness

In August, the Nigeria Expanded Trade and Transport (NEXTT) project brought together more than 230 Nigerian and international participants at the 2013 Lagos–Kano–Jibiya (LAKAJI) Agricultural Growth Corridor Investment Summit. Attendees represented a number of different sectors, including agribusiness firms, agro-allied industries, farmers, banks, investment funds, business development services providers, logistics services providers, government agencies, and development partners.

The Summit addressed the potential of the LAKAJI Corridor to stimulate investment in Nigeria’s agricultural sector, linking the largest consumer market in West Africa (Lagos) with some of the highest potential agricultural zones in the region. The lack of a clear vision of corridor development and a range of enabling environment constraints, such as limited access to finance, have stifled both private and public investment. The breakout sessions held throughout the conference set out to not only tackle these constraints to LAKAJI development but also promote collaboration between major potential actors in the growth of and investment in the corridor. As a result of the Summit, the USAID NEXTT project is currently working with a distinguished group of 40 public and private sector participants who have volunteered to join the inaugural LAKAJI Agricultural Growth Corridor Advisory Council.

The LAKAJI Summit hosted over 230 participants from Nigeria and all over the world.The LAKAJI Summit hosted over 230 participants from Nigeria and all over the world.

Published October 2013