Memorandum of Understanding Signed to Enhance Rice Production and Aggregation, Strengthening Food Security Efforts
In a significant step towards enhancing rice production and strengthening food security efforts, the Lagos Rice Mill, in collaboration with the Lagos Commodity Future Exchange and the Government of Niger State, has finalized a Memorandum of Understanding (MoU) to facilitate rice production and aggregation.
Following the recently signed MoU between Governor Babajide Sanwo-Olu of Lagos State and Governor Abubakar Sani Bello of Niger State, the partnership aims to make Lagos State the major off-taker of Paddy from Niger State, thereby enhancing the operations of the Lagos Rice Mill on a sustainable basis.
The agreement, sealed at the Government House in Minna, saw Mr. Sammy Adigun, Chairman of Niger Foods Security Systems and Logistics Company, representing the State Government of Niger, while Dr. Oluwarotimi Fashola, Special Adviser on Agriculture and Managing Director of the Lagos Rice Mill, and Dr. Akinsola Akeredolu, CEO of the Lagos Commodity and Future Exchange, represented the Lagos State Government.
Key highlights of the agreement include plans to produce 300,000 tons of paddy annually on 50,000 hectares of farmlands across Niger State. Additionally, the Lagos Commodities Exchange is set to raise a 100 billion naira food security fund from the capital market to support the commodity ecosystem in Niger State.
Governor Abubakar Sani Bello hailed the agreement as unprecedented and aligned with President Tinubu’s food security agenda. He expressed readiness to engage other states for mutual benefits and private sector growth, underscoring the potential of such collaborations in advancing agricultural development and ensuring food sufficiency.
The partnership between the Lagos Rice Mill and Niger State marks a significant milestone in the quest for food security and economic prosperity, exemplifying the spirit of cooperation and innovation in Nigeria’s agricultural sector.
**Hashtags:** #LagosRiceMill #GreaterLagosRising #GreaterNigerRising