15 August 2017

Nigeria: Dangote, Niger Sign $450m Pact in Rice, Sugar Today

Photo: Dangote
Dangote group.

Minna — A Memorandum of Understanding between Dangote Group and Niger State government would be signed today for a $450million investment in sugar and rice production, the Executive Director, Corporate Services of Dangote Group, Dr. Mansur Ahmed, has disclosed.

Speaking at the Niger State Investment Summit yesterday, in Minna, Ahmed, who represented the Chairman and CEO of the group, Alhaji Aliko Dangote, said the company would establish a large scale Rice Processing Mill that would off take and process over 200,000 metric tons of paddy rice from out growers within the next three years.

He said as part of the backward integration programme in sugar, the company would also establish a state-of-the art sugar industry involving the development of over 30,000 hectares of sugarcane plantation of about 500,000 metric tons of refined sugar in the state.

The sugar project, he said, would be located in Lavun local government area and could generate 10,000 jobs in the state.

He said a Memorandum of Understanding between the Group and the state government in relation to the proposed sugar company would be signed at a ceremony today.

"We are very excited about these investments and look forward to kick-starting this mutually beneficial partnership with the state government and the good people of Niger state," he stated.

He said the state, with its vast arable land and many rivers as well as investment-friendly government, has become the destination of choice for investors in the agricultural sector.

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