Vicampro aims to save Nigeria $200m FX through local potato production

Vicampro Farm Limited, a local firm, in partnership with BlackPace B.V. and Kiremko B.V, has said it was determined to halt Nigeria’s importation of French fries and potato flakes which currently accounts for 90 percent of the country’s domestic consumption and consequently save about $200 million which goes into such importation every year.

Olusegun Paul Andrew of the Paul Andrew Group, who works with BlackPace in the Netherlands and Switzerland, disclosed this during a chat with a select group of journalists in Lagos.

According to Andrew, an investment banker and investor, who brokered the deal, the venture will also create multiple jobs for Nigerians.

“Whilst making Nigeria a robust Agric economy, we are lending support to government’s economic blueprint for a sustainable and diversified economy. The Vicampro Farm project will add about 50,000 jobs into the economy and also increase economic activities in the retail end of the economy,” he said.

Andrew said that Vicampro currently owns 7,500 hectares of land in Manchok, Southern Kaduna, and another 800 hectares in Plateau State, adding that the most interesting aspect of the venture is the potato processing plant being built by Kiremko B.V. in Manchok.

“We also have a potato processing plant to be set up in Manchok, which is going to sit on 5 hectares of land. This is the most interesting aspect of the project because the plant is going to be the largest potato processing plant for French fries and potato flakes in Nigeria and West Africa Sub-region. It’s aimed to be one of the largest in Sub-Saharan Africa producing between 40,000 and 60,000 tons annually with a capacity of 5,000kg per day, for local consumption and regional export,” he said.