Olam Nigeria Limited has invested about N360 billion, to boost Nigeria’s agricultural sector, says official.
The Vice-President of Olam, Reji George, has made this known during an interview with the News Agency of Nigerian on Tuesday in Abuja.
He said the investment was done within its 26 years of existence in the country.
George said: “The 3,000 hectares of land under cultivation on the 6,000-hectare paddy farm, where the rice mill is located, is being increased to 10,000 hectares and will become the largest rice farm in Africa.
“The mill has given direct employment to 1,000 people from the surrounding communities. The total investment in the integrated farm, the mill and other facilities amounts to 111 million dollars (about N40 billion).
“More than 3,500 rice-growing farmers are currently engaged in training, pre-finance support and inputs supplies in order to improve their own paddy yields, and the target is the production of 16,000 tonnes of rice by 2018.
“We are determined to make Nigeria the agricultural hub on the continent; we are, therefore, sourcing, procuring, grading, processing and exporting other agricultural products such as cocoa, cashew, sesame and cotton.”
The Olam vice-president said that more than 6,000 farmers in Taraba and Benue had been fully registered and equipped with farm inputs at a 50-per-cent subsidy.