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🇳🇬 Nigeria /Economy & Trade

Nigerian Firm Seals N81.6bn Coffee Production Deal with Liberia

From ThisDay · () English

Summarized and contextualized by DistantNews.

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  • A Nigerian agro-development company, JR Firm Group, signed a 20-year partnership deal worth $60 million (N81.6 billion) with Liberia for coffee production.
  • The agreement aims to boost coffee production in Liberia and involves the Nigerian firm's investment in the sector.
  • This deal signifies a significant foreign investment in Liberia's agricultural sector, focusing on coffee as a key commodity.

Nigerian agro-development company JR Firm Group has inked a 20-year partnership deal with the Liberian government to bolster coffee production. The agreement, valued at $60 million (approximately N81.6 billion), marks a substantial foreign investment in Liberia's agricultural landscape.

Under the terms of the deal, JR Firm Group will focus on developing and enhancing coffee production capabilities within Liberia. This initiative is expected to not only increase the output of coffee but also contribute to the economic development of the West African nation.

The partnership underscores Liberia's efforts to attract foreign investment and revitalize its agricultural sector. Coffee, a historically significant crop for many African nations, presents an opportunity for economic growth and job creation. This collaboration with a Nigerian firm highlights intra-African investment and cooperation.

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Originally published by ThisDay. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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