The Dangote Group has announced that it is investing $1bn in rice cultivation in five states to boost food self-sufficiency.

A director of Dangote Group, Tunde Mabogunje, stated this at the Gateway Trade Fair in Ogun state.

“We are investing about $1 billion in rice cultivation. We have an outgrowers scheme where thousands of farmers are empowered with improved seeds and items needed to cultivate rice,” he said.

He described the theme for this year’s Trade Fair: Promoting Agricultural Value Chain through SMEs for Nigeria Economic Recovery as being apt, given the nation is now paying attention to Agriculture, which has the potential of becoming the major driver of the economy instead of oil.

Mabogunje stated “We have been contributing our quota to the growth and development of the Nigerian economy. Towards aiding agriculture, we are building a fertilizer plant in the Lekki Free Trade Zone, Lagos State.

When completed, farmers will have regular access to fertilizer for their farming activities. The delays and disruptions experienced in waiting for imported fertilizer will cease.”

Commending Dangote Group for its sponsorship and participation at the Fair, President of Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) Mrs. Adesola Adebutu said the support given by the Group went a long way in making the staging of the Fair a success.