Dangote invests $1 billion in rice production in Nigeria

Aliko Dangote, President, Dangote Group

The Minister of Agriculture signed a Memorandum of Understanding with Aliko Dangote on rice production.

The Nigerian Government on Friday signed a $1 billion Rice Investment Memorandum of Understanding (MoU) with Africa’s richest man, Aliko Dangote.

The MoU was signed at the State House in Abuja.

The Minister of Agriculture, Adewunmi Adesina, and Mr. Dangote signed on behalf of the Federal Government and Dangote Group respectively.

President Jonathan said the Dangote Group’s investment is the single largest investment ever made in rice production in Africa. He thanked Mr. Dangote for investing in agriculture and assured him that his investment will be worthwhile.

President Jonathan said he looks forward to a time where Nigeria will be self-sufficient in rice production and a net-exporter of the grain. He said that the Federal Government will protect Nigeria’s borders and check smuggling.

“Government cannot allow its borders to be porous. We are working on non-human measures and smugglers should have a rethink now and change their ways by investing their resources in other meaningful areas,” he said.

Nigeria hopes to become a net-exporter of rice in four years. The Dangote Group’s investment in rice will cover five states and is expected to contribute additional 1.4 million metric tonnes of Paddy rice.

Mr. Dangote thanked the President for the consistency of government policies. He said the current $25 billion Dangote Cement Company was the result of the consistency of government policies.

“We will continue to work hard and will not disappoint you,” he told President Jonathan.


Support PREMIUM TIMES' journalism of integrity and credibility


Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.