Hours after the United Nations Food Summit was held in New York, Nestle, a Switzerland owned food and beverage company, announced its intention to invest N535 billion in regenerative agriculture food systems.
Nestle currently operates a large investment in 22 countries including Nigeria with its country headquarters located in Ilupeju, Lagos State, and its factories sited in Agbara and Sagamu interchange on Lagos-Ibadan road in Ogun State.
In a statement issued by the company shortly after participating in the summit, its chairman, Paul Bulcke, disclosed that the food company will be investing 1.2 billion in Swiss Francs over the next five years.
The effort, Mr Bulcke noted, will spark regenerative agriculture across the company’s supply chain, using three primary levers to help farmers adopt regenerative practices.
Based on Nigeria’s exchange rate of N444.98 per Franc on Friday, the CHF1.2b is equivalent to N535 billion Nigerian Naira.
Read more from the source- PREMIUM TIMES