Dangote To Become World Largest Exporter of Rice

Dangote To Become World Largest Exporter of Rice

The Africa’s richest man Alhaji Aliko Dangote is expected to be the world largest exporter of quality rice by 2021.

The President, African Development Bank (AfDB), Mr Akinwumi Adesina, said this at the Mo Ibrahim Forum in Morocco, adding that the business tycoon had since invested about $1 billion in the growing and processing of rice.

According to him Dangote initially invested $300 million into rice production but later increased it to $1 billion following the Federal Government’s economic diversification policy, which favours agriculture.

“If they continue that policy, Dangote would probably be the single largest producer of rice in the world, in about four years,” Adesina said.

READ ALSO:  Ecobank Begs Court over Contempt Proceedings

Speaking, Dangote said that he had ventured into rice cultivation because the Federal Government had shown greater commitment to agriculture and that in a few years to come, Nigeria will not need to import rice anymore.

According to him, Nigeria consumes 6.5 million Metric tonnes of rice and spends over $2 billion annually to import rice.

“In the next three years, we want to produce one million tonnes of quality rice, make it available and affordable to the people,” he said.

As a matter of fact, Dangote will be doing rice farming on 150, 000 hectares of land and will be using Outgrowers Scheme to assist small scale producer of rice across the country.

READ ALSO:  Only Local manufacturers could restore Nigeria's economic situation - Eric Umeofia

He said that to achieve the goal, the scheme would provide high quality seeds, fertilizers, agro-chemicals and technical assistance on best agricultural practice to farmers.

Leave a Comment