Nigerian Govt Invests In 10 New Rice Mills
This was disclosed on Tuesday by the Minister of Agriculture and Rural Development, Dr Muhammed Abubakar, during the maiden edition of the National Agribusiness Stakeholders’ and Investment Summit held in Abuja.
According to him, the country’s food production had been on the increase in the last three years, making Nigeria a force to reckon with in Africa.
The minister noted that Nigeria was the largest rice producer in Africa adding that the country’s agricultural potential was huge with over 84 million hectares of arable land of which 40 per cent was cultivated.
“We are currently the largest producer of rice in Africa with a production level of over nine million metric tonnes from 2019. The Federal Government is investing in the development of additional 10 large-scale integrated rice mills across the country.
“Their combined minimum capacity is 320 Metric Tonnes per day, which when completed will enhance Nigeria’s self-sufficiency in rice production,” Abubakar stated.
Abubakar pointed out that the agricultural sector currently accounts for 24.14 per cent of the nation’s Gross Domestic Product (GDP) and 75 per cent of the total non-oil exports.
“It is notable that through various empowerment support initiatives in production, processing, and marketing of agricultural commodities, we have lifted a total of 4,205,576 Nigerians out of poverty in the last two years.
“The Federal Government has deliberately designed agricultural investment incentives to support high-level private sector participation, including tax holiday, exemptions and reliefs,” Abubakar added.