Middle East 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 & the Far East. This was discussed during the meeting between Muhammedu Buhari, President of Nigeria and Yusuff Ali MA, Chairman of LULU Group during the Annual Investment Summit being held in Dubai.
President Muhammedu Buhari urged Yusuff Ali to invest in his country and said “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. “Quality, affordability and hygiene are the watchwords of the company,” Ali told Buhari.
“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 Nigerian authorities. Also present in the meeting were Fahad Obaid Al Taffaq, UAE Ambassador to Nigeria, Mohammed Dansanta Rimi, Nigerian Ambassador to UAE, Muhammadu Abubaker Baharu, Governor Jigawa State of Nigeria, Salim VI, COO of Lulu,Salim MA, Director and other officials.
“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 its own similar facilities in others African markets such as South Africa and Egypt to export Fruits, vegetables, commodities, sea food & meat apart from hypermarkets in Egypt.
The AIM this year is generating a huge response from all stakeholders and almost 20,000 delegates from 140 different countries are discussing and debating the ways and means to boost economic growth through sustainable investments.
www.lulugroupinternational.com/