• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Lagos Multi-billion naira rice mill nears completion

Ruth Okwumbu-Imafidon by Ruth Okwumbu-Imafidon
May 31, 2020
in Business News
Rice Millers Association Backs FG On Importation Ban
Share on FacebookShare on TwitterShare on Linkedin

The multi-billion Naira 32 Metric-Ton-per hour Rice Mill being constructed by the Lagos state government at Imota, has reached 80% completion and will be completed before the end of the year, the state government has announced.

Upon completion, the rice mill is expected to create no less than 250,000 jobs across the upstream and downstream sectors in the rice value chain.

According to Lagos State Commissioner for Agriculture, Prince Gbolahan Lawal, the government has moved this project to 80% from the 35% completion level it met in May 2019.

RelatedStories

The 10 most indebted states in Nigeria as of December 2024

Lagos tops global traffic congestion in 2025, ahead of Los Angeles, Delhi and San Jose — Report 

August 16, 2025
Top 10 most expensive cities in Africa for prime office spaces  

Top 10 most expensive cities in Africa for prime office spaces  

August 15, 2025

READ ALSO: Economy: Focus on Nigerian households’ consumption pattern

Lagos State Government has said that the multi-billion Naira, 32 Metric-Ton-per hour Rice Mill at Imota will be delivered on or before the end of this year@jidesanwoolu @lagosagric1 @Abi_Olusanya @unclejyde#LASG #ForAGreaterLagos
Read More.. https://t.co/5PmI2N4C7F pic.twitter.com/nTbMkz6Pzr

— The Lagos State Govt (@followlasg) May 31, 2020

What this means

With an expected production capacity of about 2.4 million freshly processed 50kg bags of rice per annum, this mill will greatly reduce the need to import rice from surrounding states and countries.

According to Lawal, the food supply needs of Lagos state means that the state has to treat agriculture as both a business and a development platform to ensure that it is sustainable, attracts investments from strategic partners and addresses other problems in the state.

“The increasing population in Lagos has put pressure on the State’s food security, supply mechanism and available infrastructure, hence the need to prepare adequately to meet the challenges of upscaling food production cannot be over-emphasised,” he said.

The high rate of unemployment in Nigeria, coupled with the high loss of jobs expected in the wake of the COVID-19 pandemic makes this rice mill a strategic project for the times.

READ MORE: Debt Management Office opens N150 billion Sukuk bond today

Integrating local farmer groups

The local farmer groups in Lagos states and other nearby states will also be integrated into the mill operations when it commences, as they will help to cultivate the required number of paddy while the state government provides inputs such as seeds, fertilizers and irrigation facilities, where applicable.

In his words, “To meet the Paddy requirement of the Mill, we have undertaken a backward integration in the form of collaboration with other States like South-Western States, Kwara, Sokoto, Benue, Borno and Kebbi.

This will be done leveraging on the Anchor Borrower Scheme of the Central Bank of Nigeria with the Rice Mill as the off-taker of the products,” Lawal added.

This will help in no small way to enhance food security in Nigeria’s commercial city and ensure that the state can at least produce a quarter of what its residents require for consumption.

 

 

 


Follow us for Breaking News and Market Intelligence.
Tags: Business NewsLagosNigeria NewsRice mill
Ruth Okwumbu-Imafidon

Ruth Okwumbu-Imafidon

Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via ruth.okwumbu@nairametrics.ng

Related Posts

The 10 most indebted states in Nigeria as of December 2024
Sectors

Lagos tops global traffic congestion in 2025, ahead of Los Angeles, Delhi and San Jose — Report 

August 16, 2025
Top 10 most expensive cities in Africa for prime office spaces  
Exclusives

Top 10 most expensive cities in Africa for prime office spaces  

August 15, 2025
Top 10 most affordable states to live in Nigeria – May 2025 ranking  
Economy

Top 10 most affordable states to live in Nigeria – May 2025 ranking  

June 18, 2025
Mergers and Acquisitions, Fitch Ratings
Economy

Fitch upgrades Lagos, 3 other states to stable

April 26, 2025
LASG,
Health

Lagos State to begin full enforcement of mandatory health insurance from Q3 2025 

March 26, 2025
Lagos says 50% discount on transport fares will end by Sunday
Sectors

Lagos govt forfeited N500 million monthly for 25% public transport fare reduction – Report

March 14, 2025
Next Post
Wema Bank's 2019 half year financial results, Wema Bank Plc announces notice of board meeting, closed period

POST AGM: WEMA Bank extends loan to support schools and small businesses 

Comments 1

  1. Nwaizu Ikechukwu says:
    June 1, 2020 at 8:37 pm

    Starch! starch!! What of the proteins.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Kenya Airways pays NCAA fine over mistreatment of Nigerian passenger
  • Nigerian banks must up cybersecurity investments as costs of hacks soar—Experts  
  • VFD Group delivers on its N20 Billion Commercial Paper Programme with N4.24 Billion Series 4 redemption

Follow us on social media:

Recent News

Kenya Airways

Kenya Airways pays NCAA fine over mistreatment of Nigerian passenger

September 19, 2025
Nigeria Inter-Bank Settlement System (NIBSS)

Nigerian banks must up cybersecurity investments as costs of hacks soar—Experts  

September 19, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics