Dangote’s $1 billion investment in Nigerian rice production has succeeded in making him the single largest investor in rice production in Africa.
In 2014, Africa’s richest man signed a memorandum of understanding under the administration of former Nigerian president, Goodluck Ebele Jonathan.
The billionaire signed an official agreement to help in the improvement and boosting of Nigerian rice production. He pledged $1 billion investment in Nigeria’s commercial rice farming
Before now Dangote has always attributed his past economic successes as an entrepreneur to Jonathan’s economic policies. In Jonathan’s time as the president of the federation, Dangote was the 25th richest person alive.
Dangote is that kind of money bag that has a golden heart. He has shown beyond reasonable doubt that he is as selfless as the word itself.
Last week he re-focused his radar to Zimbabwe to salvage their economy. Of course there is something in it for him, but for the most part, the economic project will go along way in providing job opportunities for thousands of people.
The proposed rice plant will see to the establishment of 2 modern rice mills with the capacity to mill about 120,000 Metric Tons of rice in a day.
To that effect, Dangote’s $1 billion investment kicked off with the purchase of 150,000 hectares of land in 5 Nigerian states- Edo, Jigawa, Kebbi, Kwara, and Niger states.
Dangote’s $1 billion investment in Nigerian rice production could viably create a minimum of 8,000 job opportunities. On the other hand, the investment will cut down the exorbitant price of rice in the market.
“With rice as a major staple, we have placed total sufficiency in rice production as a major priority for our country and key value chain for our economy.”
“With this installed capacity, the project will become the largest integrated rice mill in Africa.”– Dangote