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Tag: Gbolahan Lawal

Bumps on Lagos path to generating N60b yearly from Imota Rice Mill

Bumps on Lagos path to generating N60b yearly from Imota Rice Mill

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Efforts to make Nigeria self-reliant in the area of rice production and reduce the amount spent on importation of the item yearly, led to scaling up rice farming in the country. Taking up the cue, Lagos State invested in the construction of a 32 metric tonne per hour rice mill, with the hope that it will produce 115,200 metric tonnes milled rice yearly. With this, the state government also hopes to supply the Nigerian market about 2.4 million bags of 50kg rice yearly, which according to expert, is capable of generating N60b revenue yearly. Aside the huge revenue, over 250,000 jobs would be created in both the upstream and downstream sectors of the rice value chain of the mill. Speaking on the likely economic impact of the mill, when it becomes functional, the Chief Executive O...