The Rice Farmers Association of Nigeria  has signed a Memorandum of Understanding (MoU) with Tiamin Rice Company for the processing and sale of rice locally and internationally.

In a statement yesterday, the Managing Director, Tiamin Rice Company, Aliyu Ibrahim said the initiative was aimed at growing quality rice which Tiamin will processes and package with state-of-the-art milling technology for sale locally and internationally, particularly to Egypt.

He said the MoU which would be operational for a two-year period, was signed at the company’s 600 metric ton per hour capacity mill in Bauchi state, saying RIFAN and Tiamin share a common agenda in the area of rice cultivation and milling. “This is to ensure sustainable management of the rice supply chain under a partnership that seeks to produce, mill and pack the highest quality processed rice for export and local trade.

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He said the company will execute the MoU with the combined capacity of its 920 tons per hour two mills in Kano and Bauchi states and produce from its 10,000-hectare rice farm in Udubo, where season agriculture is carried out with state-of-the-art agricultural machinery.

He said the company has benefited from six different interventions from the development office of the Central Bank of Nigeria to the tune of more than N20 billion, adding that the company had successfully repaid four of the intervention funds.

Aliyu said Tiamin Rice Company was the first corporate entity to access funds from CBN‘s Private Sector-Led Accelerated Agricultural Development Program .