As part of efforts to aid the realisation of Federal Government’s self-sufficiency target and job creation efforts, Olam Nigeria Limited has unveiled plans to increase its stake in the rice industry.
General Manager, Olam Rice, Reji George, said his company has concluded plans to kick-start milling of 200,000 metric tonnes of paddy rice in Doma Council, in Nasarawa State, by June 1.
He said the firm’s backward integration plan in the sector is expected to aid local rice production and job creation.
The firm had earlier this year unveiled its locally produced rice to the local market.
Its Business Head for Rice, Anil Nair explained that the launch was designed to meet growing local demands for the commodity as well as reduce its importation.
He explained that the launch of the commodity in Lagos was strategic since the state holds the largest market. His words: “There is lots of paddy being produced and Lagos being the biggest market in the country is having local rice coming to it.
“It is a sign of good things to come and we hope that two years from now, we will be able to bridge the gap. We have a milling capacity of about 800,000 tonnes in the country and we hope to help this country eliminate import completely.”
On placing a total ban on the commodity, George said: “I believe it should be a gradual process. Before you ban rice or any agricultural commodity, you must have to develop the local strength of rice production. If you plan the ban of importation of rice, companies like Olam is into commercial production of rice with 6,000 hectares in two cities, making it 12,000 hectares that would definitely help bridge the demand and supply gap, and with support from other companies, in addition to the role government is playing.”
