Asian investor partners Erisco to build 750,000MT tomato plant

Erisco Foods Limited, a tomato player in Nigeria, says an Asian investor is partnering with him to set up the biggest tomato paste plant in Nigeria.
The company attributed the emergence of the investor to the new Tomato Policy, which has restricted importation of pastes in retail packs.
The company also said that its sales have risen by 15 to 20 percent due to the Tomato Policy, while calling for greenback with which to import spare parts and tin plates.
Speaking to journalists in Lagos on Wednesday, Eric Umeofia, CEO of Erisco Foods, said the plant will ensure Nigeria achieves sufficiency in tomato production.
“The capacity of the plant will be 750,000 metric tonnes per annum and can employ up to 10,000 to 15,000 factory workers and 50,000 farmers in full phase,” Umeofia said.
“This project is scheduled to commence in the first quarter of 2018 and will be completed in two years’ time provided that the regulatory agencies ensure the full implementation of the tomato paste ban,” he said.
He said the economy will experience a turnaround soon due to the collaboration, stressing that the plant will grow the GDP, raise job creation and crash tomato importation into the country.
He, however, warned that the project can only come to fruition if there is more foreign exchange to indigenous manufacturers, advising the National Agency for Food Drug Administration and Control (NAFDAC) to stop registering foreign brands of tomato paste dealers in retail packs.
Umeofia said his firm is being denied access to dollars needed to import tin plates because of his insistence that indigenous investors take precedence over foreigners.

“It seems we prefer to support local and foreign businessmen that will make money in Nigeria and transfer it to overseas bank account, with a view to using it to develop another country,” he alleged.
He further stated that now is the time to support made-in-Nigeria products, urging Nigerians to take the campaign as a personal project for the benefit of the future generation.

He further appreciated the president on his efforts to promote industrialisation as well as the support given to indigenous manufacturers, saying that Nigeria’s exit from recession was based on his strong determination, incorruptible nature and economic policy in terms of your insistence that Nigeria should eat what we have and produce what we need.

“We believe in industrialising Nigeria and we need to support and create innovation in support of our country as done in China, USA, India and other countries who closed their borders when they were in need and later emerged stronger to the amazement of the world,” he admonished.

ODINAKA ANUDU