WACOT Rice Limited, a member of the Tropical General Investments (TGI) Group and one of Nigeria’s leading economic contributors, has announced that its mill expansion project began in 2021 and is 95 per cent complete, with full milling operations set to begin in August 2023.
The company made this known when it hosted the Kebbi state government for a pre-commissioning visit at its newly expanded 240,000-ton rice mill in Argungu, Kebbi State, on Saturday, thus boosting Nigeria’s food security and the state’s economy.
The original 120,000- metric tonnes rice mill was commissioned in 2017 by Vice President, Prof. Yemi Osinbajo. Governor Atiku Bagudu in company of the governor-elect, Dr Nasir Idris, and other dignitaries were part of the Kebbi state government delegation that visited the factory. Whilst expressing his delight on the progress of the project, Governor Bagudu also highlighted its positive impact on the nation and Kebbi State’s suitability for agricultural investments.
“This is another milestone by WACOT Rice. In spite of a very challenging world economy where Nigeria battled two recessions, amazingly this company believed in Nigeria, and they invested in Nigeria, and they showed that Nigeria is a destination for all investors.
Governor Bagudu thanked the management and staff of WACOT Rice for making tremendous contributions to the state with its corporate social responsibility projects. He assured the company of the state’s continuous cooperation.
“WACOT Rice, more than money, has contributed to our self-confidence and economy. They have not only helped in the production of rice but are processing the highest quality that today, Nigerians and non-Nigerians across the country are confident that Nigerian rice is equivalent to the very best that is being bought elsewhere.The governor-elect, Dr Nasir Idris, commended WACOT Rice for its substantial investments across the state, noting that they have vastly improved the economy while empowering people. “We have witnessed this ourselves, and we are very happy. Our people are engaged and employed in various capacities. Definitely, WACOT Rice has reduced the rate of unemployment, and we want to thank the management. We are going to continue to partner with them, and play our own part by ensuring that we continue to create an enabling environment for them to keep operating and growingChairman of WACOT Rice, Farouk Gumel, thanked the Kebbi state government for the support provided and assured continuous investment in the state. “On behalf of the management and board of WACOT Rice, I thank the Kebbi State Government under the able leadership of Governor Atiku Bagudu for the support.
The existing mill is a 120,000 metric tonnes mill which we have just doubled to make up to 240,000 metric tonnes/annum. Our interest is to continue to invest in Kebbi state because of the opportunities and enabling environment the government has created.”The mill’s expansion is expected to impact Nigeria’s food security ambitions positively, and Gumel noted that WACOT Rice would not rest on its oars until the country becomes food sufficient. “We align with President Buhari’s administration goals for rice and food sufficiency, and I assure you that with this commissioning of our expanded mill, the future is bright for Nigeria.”
The President of the Rice Farmers Association of Nigeria (RIFAN), Alhaji Aminu Mohammed Goronyo, also praised the presence of WACOT in Nigeria. “WACOT is a blessing, not only to Kebbi State but to Nigeria as a whole. WACOT has supported this administration, over time to achieve rice sufficiency in Nigeria, which, by extension, is achieving food security. We hope they will continue to play their key role.
”WACOT Rice is a member of the Tropical General Investments (TGI) Group. TGI Group is a global conglomerate with majority of its investments in emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world-class products consumed locally and exported to global markets. TGI Group is the parent company of WACOT Rice, CORMART, CHI Farms among others.
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