Niger State Government has signed a multi-billion Naira Memorandum of Understanding (MoU), with Lagos Rice Company and Lagos Commodity Future Exchange for the production of rice.
In the agreement, the State Private Enterprise, Niger Foods Limited will produce 300,000 tons of rice on 20,000 hectares of farm estate in Niger State while the Lagos Rice Company will off-take the rice and the Lagos Commodity Exchange will support the project with N100 billion.
The agreement was sealed at the Government House Minna where the Chairman, Niger Foods Security Systems and Logistics Company, Sammy Adigun signed on behalf of the State Government while the CEO of Lagos Rice Company Dr Oluwarotimi Fashola and the CEO of Lagos Commodity and Future Exchange, Dr Akinsola Akeredolu signed on behalf of the Lagos State Government.
Farmer Governor Umaru Bago who described the agreement as unprecedented said the deal will be beneficial to both States.
The Farmer Governor also disclosed that the agreement is in tandem with President Tinubu’s food security agenda and will to a great extent empower farmers in Niger State.
He disclosed that a similar agreement will soon be signed with the Ogun State Government stressing that his administration is ready to collaborate with other State Governments for mutual benefit and will also do its best to ensure the private sector thrives.
In their separate remarks, the CEO of Lagos Rice Company Dr Oluwarotimi Fashola and the CEO of Lagos Commodity and Future Exchange, Akinsola Akeredolu commended the Farmer Governor for his dogged efforts at revamping the Agricultural sector which has over the years been neglected.
They all expressed hope that Niger State will be on the global map as one of the biggest Agricultural hubs considering the zeal and determination of the Farmer Governor.
