Nigeria: Covid-19 - Investors Urged to Put Resources Into Food Production

31 July 2020

The Chief Executive Officer, Santuscom Agro Hub, Ofana Paul, has urged investors to put resources into food production amid the novel Coronavirus, COVID-19 pandemic in the country.

According to him, the current economic situation makes the sector attractive for investment in food production as there is a looming food crisis as predicted by some renowned agricultural organizations, and also there is profitability doing that.

He said: "The economic situation in Nigeria calls for all hands to be on deck from both public and private sector, especially in the agricultural sector, which all Nigerians in other sectors depend on for food.

"We decided to embark on massive investment in the rice value chain and called our brand OGOJA RICE to compete in the market and have a large grasp of the entire market in Nigeria, West and Central African countries.

"OGOJA RICE is of the cali55 rice specie and our rice field currently sits on 1, 000 hectares of land in Santuscom Agro Park in Ogoja, Cross River State. Right now we are already expanding to 3, 000 hectares because of the increasing demand for the commodity. Currently, we are producing 30 tonnes daily.

"On your investment, we can assure you that with 40 per cent return and there are other benefits which include job creation and value addition, and it is geared towards mitigating food insecurity as a result of the COVID-19 pandemic. This will help remedy the food security crisis predicted.

"Now we are working assiduously to meet market demand, and we have to do 300 to 400 tonnes per day, that is why we are opening the space for investors to come in under the crowdfunding platform and the investors will earn 40 per cent Return On Investment.

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