TradeInvestNigeria Staff
Posted on: Mon, 05 May 2008
The Stallion Group is establishing a major rice project in Nigeria and Ghana. The project entails rice growing and milling as well as the manufacturing of related farm implements and accessories.
A total of 2.25 million tons of rice will be grown and milled in Nigeria annually and a further 500,000 tons per annum in Ghana. The federal ministry of agriculture claims that Nigeria can be self-sufficient in rice production, as nearly all-ecological zones in the country are suitable for rice cultivation. The country has been spending about $267 million annually on the importation of rice.
The total project value is estimated to be approximately $1.2 billion and the investment will be made in partnership with the Federal Government.
Stallion Group is an established player in the agri-business field in West Africa.
- Nigeria aims to be self-sufficient in the production of basic food sources
- Lucrative export opportunities exist for Ofada rice
- Foreign firm ready to start with rice production in Taraba
- Kwara set to build on agricultural revolution
- Rice farming project to commence in Akwa Ibom