by Channels Television
In an interview centred on food security and the reforms in the Agriculture sector, Dr Adesina said that the agriculture policy of the government had opened up the sector for more investments to thrive.
He said that the government had made necessary contributions in terms of high yield seedlings for small, medium and large scale farmers.
He listed different chains in the agriculture sector that the government’s transformation agenda was focusing on, emphasising that ‘rice is the most profitable’.
The agenda is aimed at shifting the mainstay of the Nigerian economy from crude oil to agriculture.
“If you invested 14 million dollars in an integrated rice mill in Nigeria today, the internal rate of return on the investment is 42 to 50 per cent and the time it takes you to pay back the investment is exactly two years. It is the most profitable thing that anyone can be doing in Nigeria today.
“That is because the population is rising and people are consuming more rice.
“If we folded our hands in Nigeria today and keep importing rice from India Thailand, by 2050, we will be spending 35 billion dollars importing rice from them.
“We have started distributing this rice variety and when we started, we started with roughly about 406,000 farmers in 2012 then we moved to 2.6 million farmers in 2013. In 2014, we have added another three million farmers growing this rice.
“Fifty per cent of the farmers that are growing rice in the wet season have shifted to this variety of rice that could be planted in dry season. We can now produce in the wet season and in the dry season,” he said.
Africa’s richest man, Aliko Dangote, had said he would be investing a billion dollars in commercial rice milling.
Other big names in Nigeria are also coming into the sector with huge funds, evidencing the viability of the sector.
Thai For Rice In Africa
The Minister said that with the policy that President Goodluck Jonathan had put in place, more investments were expected to come in.
“Nigeria Agriculture has changed and that is why the big names are coming in. They realised that it is a big money making enterprise. There is a role for everybody, the small the medium and the large."
Read more HERE.
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| "If you are looking to invest in Nigeria, the largest Economy in Africa, you should consider rice farming which is the most profitable in the Agriculture sector," says the Minister of Agriculture, Akinwunmi Adesina |
In an interview centred on food security and the reforms in the Agriculture sector, Dr Adesina said that the agriculture policy of the government had opened up the sector for more investments to thrive.
He said that the government had made necessary contributions in terms of high yield seedlings for small, medium and large scale farmers.
He listed different chains in the agriculture sector that the government’s transformation agenda was focusing on, emphasising that ‘rice is the most profitable’.
The agenda is aimed at shifting the mainstay of the Nigerian economy from crude oil to agriculture.
“If you invested 14 million dollars in an integrated rice mill in Nigeria today, the internal rate of return on the investment is 42 to 50 per cent and the time it takes you to pay back the investment is exactly two years. It is the most profitable thing that anyone can be doing in Nigeria today.
“That is because the population is rising and people are consuming more rice.
“If we folded our hands in Nigeria today and keep importing rice from India Thailand, by 2050, we will be spending 35 billion dollars importing rice from them.
“We have started distributing this rice variety and when we started, we started with roughly about 406,000 farmers in 2012 then we moved to 2.6 million farmers in 2013. In 2014, we have added another three million farmers growing this rice.
“Fifty per cent of the farmers that are growing rice in the wet season have shifted to this variety of rice that could be planted in dry season. We can now produce in the wet season and in the dry season,” he said.
Africa’s richest man, Aliko Dangote, had said he would be investing a billion dollars in commercial rice milling.
Other big names in Nigeria are also coming into the sector with huge funds, evidencing the viability of the sector.
Thai For Rice In Africa
The Minister said that with the policy that President Goodluck Jonathan had put in place, more investments were expected to come in.
“Nigeria Agriculture has changed and that is why the big names are coming in. They realised that it is a big money making enterprise. There is a role for everybody, the small the medium and the large."
Read more HERE.
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