More than 40 Egyptian investors have expressed interest in projects in Nigeria’s Ekiti State, with potential investments estimated at up to $500 million.
The investment interest emerged from the Ekiti-Egypt Industrial Investment Mission held in Cairo in July, organised by Welcome2Africa International and supported by the Ekiti State Government.
Projects under consideration include mining, agriculture and agro-processing, with more than $200 million in investments potentially coming through in the short to medium term.
Proposed projects include commercial maize and soybean farming, seed production, cassava and maize processing, and an integrated agro-industrial project covering corn milling, starch, animal feed and poultry.
The state government says the investments would help create jobs and increase the local processing of Ekiti’s mineral and agricultural resources.
The wider pipeline could reach $500 million if additional projects move forward.