Lagos — KPMG Professional Services has launched its annual agribusiness report titled 'Rice Industry Review' in Lagos.
Findings from the report indicated that the demand for rice in Nigeria is expected to grow in line with strong demand drivers such as increasing population and urbanization; changing consumer preferences and humanitarian feeding. Also, with rapid population growth expected to exceed 200million by end of 2019, it is expected that the demand for rice will be sustained and increased in the foreseeable future.
Partner and Head, Consumer and Industrial Markets (CIM), KPMG in Nigeria, Goodluck Obi said that the current administration has identified agriculture as a key sector and growth driver for the economy; noting that the robust report turns the Nigerian Rice Industry inside-out as it highlights the big players in the industry, the extent of their involvement, investment opportunities, how Nigeria fares globally and the future of the rice business.
Also, Partner and Sector Lead, Agribusiness, KPMG in Nigeria, Mohammed Adama described the report as not just as in-depth review of the rice industry; noting that it is a storyboard of how far Nigeria has come in its ability as a country to merge business and agriculture on a mega scale from the rice perspective.