Nigeria’s Next Money Well is in Kebbi State

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Acting President of Nigeria, Yemi Osinbajo, in the company of the Kebbi State Government has launched a gigantic 120,000 MT/YEAR Factory solely dedicated to the production of Rice.

Speaking of the animal kingdom, it turns out that the sleeping Lion was thinking of the lower class animals before he went into sudden silence as this rather thoughtful development is said to be following the President’s launch of the Anchor Borrowers program in Kebbi, in November 2015.

The 10 billion Naira investment supported by an OUTGROWER scheme comprising 50,000 Rice farmers is located in the town of Argungu in Kebbi State.

The mill is reportedly a completely private venture by WATCOM LIMITED, an English company based in London and currently has a processing capacity of 120,000 metric tonnes of Rice paddy per anum so this should be the last we hear of “Plastic Rice” in Nigeria, the company also says it there are plans to double the production capacity in a very short period of time and that production should rise up to 500,000 MT/PA in the next five years.

With this development, it “might” be safe to say between now and the next five years we would have less unemployed youths in the North if a criterion for employment of clear man labour does not include an 8-year experience with a Bachelor’s degree in Rice farming.

The mill will according to reports run for 24 hours every day and produce 400 MT of “High Quality” Nigerian parboiled Rice, so somehow Nigeria has built a Money well that is not an oil well bravo! Still, during the supposed recession, Nigerian local Rice did sell for a far more expensive price than imported Tai Rice, just saying…

Video credit: @toluogunlesi vis Twitter

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