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Izy OKU
1 month ago
Overview
Investing in rice production and rice processing
The Federal Government plans to make Nigeria self-sufficient in rice production. From research, it has been proven that Nigeria rice is one of the best as the taste and quality is far better than imported ones from other parts of the world.
In Nigeria today, some states produce paddy rice in abundance. Some of these states are Enugu, Anambra, Abia, Kebbi, Imo, Kwara, Edo, Ogun, Ondo, Cross River State, and Sokoto, to mention but few. Therefore with serious efforts not only by the government but private companies and individuals, the self-sufficiency policy is achievable.
Rice is consumed in great quantities every day. So, the demand is very high. Of the total projected population figure of 200million, over 70% feed on rice. Because of the high demand, most of what is consumed is imported. This situation should not be allowed to continue forever. These importers must channel their huge resources to establish modern milling plants in Nigeria instead of helping the growth of some foreign countries.
From publications made by the Bureau of Statistics and the Federal Ministry of Finance, the importation figures of rice amounted to about N1tr (One trillion Naira) at the end of 2012.
https://guardian.ng/business-services/investing-in-rice-production-and-rice-processing/
