Dangote Industries Limited on Friday announced a $1bn (N165bn) investment for commercial rice farming and modern integrated rice mills to be run by the firm in Nigeria. The President and Chairman, Dangote Group, Mr. Aliko Dangote, announced his firm’s investment plan at the headquarters of the Federal Ministry of Agriculture and Rural Development in Abuja.
Dangote, who led a delegation from his firm to the ministry, later proceeded to the Presidential Villa for the signing of a Memorandum of Understanding with the Federal Government. He told ministry officials and journalists that the move to invest in rice production was aimed at developing Nigeria’s economy through agriculture.
He said the investment would further boosts the Federal Government’s drive to attain food sufficiency in Nigeria, adding that in the next fours years Nigeria will become an exporter of rice.
