The President of Toshoku Company Limited of Japan, Mr. Zentaro Iwamoto, has expressed the readiness of his company to establish its presence in Nigeria by growing large farm of soya beans and sorghum and processing them into flour for export around the world.
Mr. Iwamoto, who displayed some bread, biscuits and doughnuts that his company produced from sorghum in Japan, explained that the factory was expected to produce high quality soya beans flour - 15,000 tons per year and sorghum of 84,000 tons per year - each.
The investment, worth N17.91 billion ($90 million) from the company, requires about five million hectares of land to grow both soya beans and sorghum before processing same into flour for export.
The acting executive secretary of the Nigeria Investment Promotion Commission, Hajiya Ladi Katagum, while receiving the president of the company, in her office recently, said the coming of the company into the Nigerian economy to invest in the agricultural sector is very timely as it was in line with the diversification policy of the federal government.
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