Lagos State Governor, Babajide Sanwo-Olu in a chat with industry magnet, Aliko Dangote shortly after CBN's Gov's presentation at a dinner in Lagos recently
Indications have emerged showing that Nigeria will soon be exporting rice as Dangote Rice is set to hit both Nigerian and international markets sooner than later.
Otherwise, the era Nigeria’s narrative as a rice importing nation may be coming to an end as cement imports had long gone courtesy of exploits of Dangote Group both in rice and cement.
Dangote Group averred recently that its 150,000 hectares rice farmlands in Jigawa, Kano, Kebbi, Nasarawa, Niger, Sokoto, and Zamfara States as well as 10 rice mills it was establishing in different parts of the country would deliver one million tons of rice annually.
Industry analysts say whereas local rice is beginning to saturate the country even though the prices are still unbearable, the coming of Dangote Rice will not only crash the prices, but give window for exports.
Explaining more at the the Dangote’s Special Day, at the ongoing 33rd Lagos International Trade Fair (LITF), the Dangote Group’s Executive Director, Kunt Ulvmoen, said Dangote had been known to be the number one in rice business in Nigeria until it took the decision to terminate any commodity trading that would not achieve value addition on locally. He said with the volume and height of investments in rice farming and processing, as soon as Dangote rice hits the Nigerian market, the next level will be plans for exports.
