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Dangote Set To Crash The Market Of Rice

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Nigerians’ challenges with the purchase of rice may soon become a thing of the past as is set to hit the market stalls.

Dangote Rice
Dangote Rice

According to The Nation, the management of the rice-producing company has commenced the harvest of its first tranche and Aliko Dangote, Africa’s richest billionaire, is said to be very happy with the latest development.

Sources within the organisation informed the business mogul has expressed satisfaction with the recent development more because it will help ease the pains of Nigerians, who are presently groaning over the N20, 000 per bag cost of the commodity.

The source said: “We are really excited about the progress so far recorded in this our rice projects. Once we commence the sales of our rice, I can authoritatively tell you that the price of rice will crash in the country as we should have enough, in the next few years to make importation of rice non-attractive again into the country.”

Recall that Dangote inaugurated its 8,000-hectare rice out-growers’ scheme in Hadejia, Jigawa state early this year, when he distributed rice seedlings to farmers.

The scheme is said to help reduce the level of Nigeria’s imports and potentially provide direct and indirect jobs to about 10, 000 Nigerians.

Dangote Industries Limited (DIL) also recently signed a Memorandum of Understanding (MoU) with the ministry of Agriculture and Rural Development (FMARD) to invest $1billion (N165 million) on establishment of fully integrated rice production and processing operations across Nigeria.
Farmland in Edo, Jigawa, Kebbi, Kwara, and Niger states totalling 150,000 hectares have been penciled down for the commercial production of rice paddy.

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