The report is prepared by the Agribusiness and Investment team at the Federal Ministry of Agriculture and Rural Development.
It said that the country’s competitive landscape showed significant room for additional domestic concentrate producers.
Fruits like pineapple, the report stated, fell under such great opportunities.
”Since pineapple is the second and most popular concentrate used by the Nigerian drink manufacturers and Nigeria is the eight largest global producer of pineapple, there is a large opportunity in processing its concentrate.
”Several different varieties of pineapple are grown in Nigeria; the sweet cayenne variety is common and well-suited to concentrate production.
”Investors have a promising opportunity to process fruit juice concentrate for sale to domestic fruit drink manufacturers.
”There is a large number of fruit juice and drink manufacturers in Nigeria, providing a ready market for domestic concentrate.
”These manufacturers have both financial and logistical incentives to procure locally,” it said.
The report noted that over 95 percent of fruit concentrates used in locally-made juices were imported while the country had the natural endowments for fruit production and a comparative advantage relative to other African nations.
It also stated that the country’s fruit demand was growing at over 10 percent per annum due to an increased awareness of the health benefits of fruit juice, among other drives.
According to the report, there have been challenges in securing sufficient raw materials because of low yields and post-harvest losses.
”But the Federal Government is working to ensure sufficient raw materials for processors by implementing initiatives to improve yields, support access to inputs and facilitate effective post-harvest handling.
”It will also coordinate farmers into efficient out grower schemes.”
The report disclosed that the Federal Government and donors were building the capacity of research institutes, upgrading facilities and training staff to develop better varieties and produce mass seedlings and fruit suckers.
”They are training farmers on improved cultivation and harvest practises as well as provide appropriate storage containers to farmers to reduce losses during transportation.
”Additional incentives are also in place to encourage domestic processing of fruit concentrate.
”Overall, there are government initiatives at each step of the value chain to make processing a lucrative investment,” it stated.
In addition, the report said : ”the Federal Government’s development of Staple Crop Processing Zones will ensure end to end support for businesses from a one – stop – shop for business registration.
”Government is committed to single- digit interest rates for processors and has also implemented other financial incentives such as tax holidays and capital allowances,” it said.
Dr Akinwumi Adesina, Minister of Agriculture and Rural Development, has reiterated the Federal Government’s commitment to increased Nigeria’s foreign investments to achieve the goals of the Agricultural Transformation Agenda (ATA).
The minister stated that ‘investment drive’ is important for the sector to open up the potentials of some crops