Dangote To Invest 382 Billion Naira In Rice Cultivation
His business interests are growing. His empire is expanding and there is no stopping Africa's richest man.
Dangote is joining the operation stop rice importation movement. The Dangote Group plans to invest $1bn, which translates to about 382 billion Naira in rice cultivation in five states to boost food self-sufficiency in the country.
Speaking at the just concluded 2017 Gateway Trade Fair, which held in Abeokuta, Ogun State, a director of the Dangote Group, Tunde Mabogunje, said, “We have been contributing our quota to the growth and development of the Nigerian economy. Towards aiding agriculture, we are building a fertilizer plant in the Lekki Free Trade Zone, Lagos State.
“When completed, farmers will have regular access to fertilizer for their farming activities. The delays and disruptions experienced in waiting for imported fertilizer will cease.
“We are investing about $1bn in rice cultivation. We have an out-growers scheme where thousands of farmers are empowered with improved seeds and items needed to cultivate rice.”
Mabogunje added that Dangote Group is at the forefront of job creation and is the largest employer of labour outside the Federal Government, and has been contributing its quota to the growth and development of the Nigerian economy for more than three decades.