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Jonathan commends Dangote for investing $1bn in rice production

By on August 2, 2014

President, Dangote Industries Limited, Aliko Dangote, on Friday announced that his company would invest $1billion in modern integrated rice projects and commercial rice farming in five Nigerian states.

The Africa richest man disclosed this at the headquarters of the Federal Ministry of Agriculture and Rural Development in Abuja, during an interaction with the Minister of Agriculture, Akinwumi Adesina where he selected Edo, Jigawa, Kebbi, Kwara and Niger states for the project.

The session held on Friday.

The investment, he explained, was expected to make Nigeria one of the largest producer sof rice in the global market.

According to him, “Our company has acquired farmland in Edo, Jigawa, Kebbi, Kwara and Niger states totalling 150,000 hectares, to be used for the commercial production of paddy.

“As part of the project, we will establish two state-of-the-art large-scale rice mills, each with a capacity to mill 120,000 metric tonnes of paddy rice, bringing total capacity to 240,000bmetric tonnes, with plans to double capacity within two years.”

He noted that as an integrated operation, the Dangote Farms and the mills are expected to significantly boost smallholder rice production in the regions through a nucleus and out-grower farm model, thereby transforming livelihoods in rural areas in Nigeria.

He further stated that having the capacity to export rice, it would be shameful for a country like Nigeria, with the biggest economy in Africa to continue to import rice.

He further pledged his support for Nigeria in order to turn around its economy.