ODK Group Invests in Tractor Assembly Plant in Nigeria
On 22 October 2024, a groundbreaking ceremony for the Nortra Tractors Assembly Plant and Service Center took place in Enugu City, the capital of the Enugu State in Nigeria. State Governor Peter Mbah, State Commissioner for Trade, Investment & Industry Adaora Chukwu, State Commissioner for Agriculture & Agro-Industrialization Patrick Ubru, ODK Group of Denmark Morten Anderson and Nortra Tractors CEO Philip Njoku attended the event.
During his keynote address, Governor Mbah underscored that to give an initial push for the tractor plant, 800 out of 1,000 tractors ordered will be assembled locally.
“Again, initiatives like what we are doing with Nortra, not only creates opportunities, but will also stimulate our economy. It boosts that economic growth that we are expecting and creates employment for our people … So, we are going to continue to support Nortra to ensure that we provide the basic amenities, the right infrastructure, and also security for your investment to thrive.”
Enugu State Governor Peter Mbah
ODK Group is a Danish conglomerate which owns Nortra Tractors. During his address, Notra Tractors CEO Philip Njoku highlighted that Enugu State is a place that is ‘thriving powerfully in terms of innovation, commercialization, and everything you can think of in terms of development.’
The tractors will boost agricultural productivity and help to modernize the agricultural sector in Nigeria. With higher yields, Enugu State can enhance its earnings from agribusiness while fostering #FoodSecurity.
It is also worth pointing out that this investment is in line with the “Green Imperative” of the Nigerian Federal Government. According to this program, Nigeria has earmarked a budget f USD 1.1 billion to set up 774 agriculture mechanization centers acros all the 36 States making up Nigeria.
At the same time, such type of #FDI is in line with the policy of African nations to promote #industrialization and more Local Value Addition (#LVA). Other than the already large Nigerian market, Nortra Tractors has its eyes on the massive single African market made possible by the #AfCFTA.
Governor Mbah went to outline his vision to grow Enugu state from a USD 4 billion to USD 30 billion economy. In that respect, he plans to build 260 Smart Green Schools, 260 Type 2 Healthcare Centers and has several other similar large-scale projects in the pipeline.