Billionaire Aliko Dangote, Africa’s richest man has announced he will be investing $1 billion into commercial rice production and milling in Nigeria in support of the government’s goal of becoming self-sufficient and a net exporter of the grain within the next four years. Dangote Group has acquired 150,000 hectares across the five Nigerian states of Edo, Jigawa, Kebbi, Kwara, and Niger for the establishment of commercial rice paddy and the group has also plans to construct two rice mills which will have a capacity of 240,000 tons of rice per day. Once completed, the project will create the largest integrated rice milling operation on the continent of Africa, and is expected to significantly reduce the price of locally produced rice.
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