Dangote to resuscitate rice farming with N165bn in 5 states




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dangote industries limited Industries Limited (DIL) signed, at the weekend a memorandum of understanding (MoU) with the Federal Ministry of Agriculture and Rural to invest $1 billion (about N165 billion) for the establishment of fully integrated rice production and processing operations across Nigeria.
presided over the signing ceremony.
The MoU and the planned investment are a to the reforms of the ’s Agricultural Transformation Agenda (ATA) launched in 2011.
Following the launch, the Federal Ministry of Agriculture and Rural worked with various stakeholders to ensure increased investments in agriculture with emphasis on sector investments.
has acquired farmland in Edo, , Kebbi, Kwara, and Niger states, totalling 150,000 hectares, to be used for the commercial production of rice paddy.
As part of the project, will also establish two modern large-scale rice mills each with a capacity to mill 120,000 metric tonnes of rice paddy, bringing the total capacity to 240,000 metric tonnes.
The company also plans to double the capacity within two years.
With this installed capacity, the project will become the largest single investment in rice production in Africa.
The rice plant is estimated to produce 960,000 metric tonnes of mill rice, representing 46 per cent of rice imported into Nigeria.
Jonathan hailed DIL Chief Executive, Alhaji Aliko Dangote, for building a strong industrial base in Nigeria.[eap_ad_2]
He said: “It takes a lot of hardwork, commitment and discipline to achieve the feat, accomplished by Aliko Dangote. Today is a great day for Nigeria, and this investment is worth the risk. The country is capable of producing rice that can feed the whole of West African sub-region”
On Nigeria’s porous , the President vowed to end the spate of smuggling in the next 12 months.
He cautioned that the days of smugglers were numbered and that the Federal Government was determined to install electronic surveillance equipment that would depend less on human manipulations and interventions.
Jonathan assured Dangote that his investment would be protected.
Dangote hailed the government for evolving a that has made Nigeria an irresistible place to invest.
The foremost industrialist urged other Nigerian entrepreneurs to join the for making the country a haven for investments.
Dangote said: “Our goal of making Nigeria a net exporter of rice will be achieved faster by this significant investment. I congratulate the Minister of Agriculture and his for the very strong demonstration of public- sector partnerships and collaboration to drive significant transformation in Nigeria’s agriculture sector.”[eap_ad_3]