Business
Nigeria to begin export of rice to Egypt amid claims of food shortages
The Rice Farmers Association of Nigeria and Tiamin Rice Company have signed a memorandum of agreement for the processing and sale of rice domestically and abroad.
This was disclosed in a statement made by Mr. Aliyu Ibrahim, the Tiamin Rice Company’s deputy managing director, in Abuja.
According to Aliyu, the program aims to cultivate high-quality rice by RIFAN, which Tiamin then processes and packages using cutting-edge milling equipment for sale both locally and abroad, particularly in Egypt.
He said that the MoU, which would be in effect for two years, was signed at the company’s mill in Bauchi State, which has a 600 metric tonnes per hour capacity.
“RIFAN and Tiamin share a common agenda in the area of rice farming and milling.
“This is to ensure a sustainable supply chain management of rice under a partnership that seeks to produce, mill and package processed rice of the highest quality for export and local trading.
Read also:Kwara leads among states with highest food inflation, Kaduna tops slowest
“With a combined capacity of 920 tonnes per hour from its two mills in Kano and Bauchi states, Tiamin Rice is one of the largest producers of rice in Nigeria,” he said.
In addition, the business, according to Aliyu, operates a 10,000 hectare rice field in Udubo, Bauchi State.
The company had “benefited from six different Central Bank of Nigeria development finance operations,” he continued.
Adding that the corporation has successfully repaid four of the intervention funds, he claimed the intervention cost more about N20 billion.
Aliyu further noted that Tiamin Rice Company was the first corporate body to utilize CBN funds from the Private Sector-Led Accelerated Agricultural Development Scheme.
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