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Nigeria expects N250bn from 14 new rice mills to be completed soon - FG

Nigeria expects N250bn from 14 new rice mills to be completed soon - FG

- The federal government is expecting investment worth N250 billion from 14 rice mills to be set up soon

- Minister Audu Ogbeh did not mention the investors, but says the challenge with imported rice has been overcome

- Ogbeh says there are presently 21 large integrated rice mills with a total processing capacity of 1.22 million metric tonnes

The federal government of Nigeria has revealed that the 14 new rice mills being planned to be completed in the country in no distant time will attract N250 billion worth of investments to the agriculture sector.

The Punch had earlier reported that Thailand had commenced moves to establish rice mills in Nigeria following the over 90 percent reduction in the importation of the commodity from the country.

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The developing report says the federal government did not name those who were to establish the 14 new rice mills.

It said the revelation was made by the agriculture and rural development, Chief Audu Ogbeh, at the AgroNigeria high-level rice conference in Abuja that the move would attract hundreds of billions of naira to Nigeria’s rice value chain.

“There are presently 21 large integrated rice mills with a total processing capacity of 1.22 million metric tonnes yearly and spreading across the country, from Kano, Enugu, Ebonyi, Kebbi, Anambra, Edo, Nasarawa, Benue, Kwara, Jigawa, Niger and Kogi states.

“The challenge associated with local rice, which has discouraged consumers, especially when compared to imported rice, has been overcome. Today, several integrated local rice mills have their milled rice in the Nigerian market and consumer demand and preference for local rice has risen due to better quality and taste compared to imported rice.

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“Home-grown international grade rice can be found across Nigerian markets and a total of 14 mills will soon come on board,” he said.

Legit.ng earlier reported that Chief Audu Ogbeh revealed that the federal government was targeting the production of seven million tonnes of rice by 2018.

Minister Ogbeh was quoted as saying: “I think we have attained the level of being one of the largest producers of rice, even though many people are still in doubt about that.

“So, for those who say it is not true, I think they need to take another look. I have been in Vietnam, the same kind of rice plantation you see there is what you see in Nigeria."

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Source: Legit.ng

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