Governor Umar Bago of Niger State has projected that his administration is poised to achieve a revenue milestone of N1 trillion through the Niger Food Security and Logistics Company within the next five years.
This statement was conveyed by Mr. Abdullberqy Ebbo, the Special Adviser on Digital Media and Strategy to the governor, in a release issued on Saturday in Abuja.
The initiative is expected to create employment opportunities for over 100,000 farmers who will cultivate more than 100,000 hectares of land across the state.
Ebbo highlighted that a significant agreement was inked between Mr. Sammy Adigun, Chairman of Niger Foods, and Sadik Kassim, the Executive Director of TGI Group, a Commodity off-takers firm.
The signing ceremony witnessed the presence of the Chairman of Union Bank and the EVC of TGI Group, Malam Faruk Gumel.
As per the agreement terms, both the state and the producer will be responsible for the cultivation, harvesting, aggregation, and sale of rice paddy, soya beans, maize, and sesame seeds to the off-taker.
Tropical General Investments, part of the conglomerate alongside Union Bank, Wacot Rice, Wasil, and Chi groups, will handle the transportation, logistics, and procurement of the farm produce.
Ebbo emphasized that this transaction is projected to yield an annual production of 600,000 to one million tonnes of various agricultural products for a consecutive period of five years. (NAN)
