Aliko Dangote, Africa’s richest man, announced on this Friday to start a new rice project in five states of nigeria, at the headquarters of the Federal Ministry of Agriculture and Rural Development in Abuja, during an interaction with the Minister of Agriculture.

President of the Group, Aliko Dangote, said that the purpose of spending US $ 1 billion to start the new rice project was ultimately to create the employment, to boost agriculture and  food production.

He said that this will create the employment  in all such areas where this project is started as the rice crops require different steps to grow from paddy to rice.Hence this will lead to increase in the  requirement of  number of labors and hence increases the employment opportunity in such areas ultimately increasing the economic activities.

Dangote Industries Limited , Aliko Dangote
Dangote Industries Limited , Aliko Dangote

The change in the agenda  of the federal government was appreciate able and let some business minded people to contribute to this agenda and hence contribute to the nation’s economic development. 

According to him they will have two state of art large scale rice mills having capacity of producing 120,000 metric tonnes of paddy rice each  making a total capacity of 240,000bmetric tonnes, with plans to double capacity within two years.This will make the  project  the largest single investment ever made in rice production in Africa.

The rice plant is estimated to produce 960,000 metric tonnes of mill rice, representing 46 per cent of rice imported into Nigeria. According to Dangote , his company has purchased land in the Five states namely Edo, Jigawa, Kebbi, Kwara and Niger  making a total of  150,000 hectares of land for the production of paddy crops in the Nigeria.

 President Goodluck Jonathan, speaking on the significance of the investment, had said “Nigeria recognises that agriculture holds the key for inclusive growth that will help lift millions of our people out of poverty into wealth. This is a mark of strong confidence in the success of our agricultural policies and the strength of our economy.”
The investment, according to the President, has the capacity of creating massive employment opportunities, therefore reducing unemployment in the nation.