UAE-based retailer Lulu Group International intends to set up a sourcing and logistics facility in Nigeria to export local agricultural produce to its various operations across the GCC, India and Far East.
The plan was discussed during a meeting between Muhammedu Buhari, President of Nigeria, and Yusuff Ali MA, chairman of Lulu Group during the Annual Investment Summit being held in Dubai.
Buhari urged Yusuff Ali to invest in his country, saying: “Come to Nigeria and prosper and have handsome returns on your investments, within the shortest possible time."
Yusuff Ali briefed the Nigerian President about Lulu’s activities and expressed interest to work with Nigerian farmers to promote local produce and to ensure food security.
“We are also interested to sign contract farming deals with local farmers and entrepreneurs to help supply fresh vegetables and fruits to our hypermarkets worldwide,” said Ali.
A high level team of Lulu is expected to visit Nigeria soon for further discussion with authorities.
“Discussions were held to invest in Nigeria’s retail sector by Lulu Group and more importantly to invest in local agricultural products and help to market them worldwide will be extremely beneficial for the local farmers”, said Geoffrey Onyeama, Nigerian Foreign Minister after the meeting.
Lulu currently has similar facilities in other African markets such as South Africa and Egypt.