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Aliko Dangote, Chairman of Dangote Group, is set to launch a rice mill in Nigeria to tap into the growing economy of Nigeria.
Reuters is reporting that the company will launch the rice mill with a farm scheme in Nigeria.
According to the nation’s ministry of agriculture, in 2015, the demand for rice hit 6.3million metric tonnes with 2.3million metric tonnes produced in Nigeria, leaving the country relying on imports.
Dangote, who is Africa’s richest business mogul, said the Dangote Rice subsidiary of the group will launch the pilot project, starting with 500 hectares of farmland by Gonroyo Dam in Sokoto, Northern Nigeria.
In a statement, the company said the project is estimated to cover a land area of 25,000 hectares across three sites by the end of 2017.
The statement said: “Our model can then be successfully scaled to produce 1,000,000 MT of milled rice in order to satisfy 16 percent of the domestic market demand for rice over the next five years.”
Dangote Group, which is the biggest company in the country, is into cement, food manufacturing, oil and gas and real estate.
In January this year, the group launched a $100million truck assembly plant to tap into a projected rise in demand for transport.
The company said it would partner with smallholders and contract farmers to grow paddy rice for milling. It will offer inputs to farmers while the smallholders provide land and labour.
It was learnt that the 25,000 hectares of land will be cultivated by 50,000 farmers who will be organized into groups.