One of the biggest rice mills in Nigeria, Tiamin Rice, has signed a Memorandum of Understanding (MoU) with the Rice Farmers Association of Nigeria (RIFAN) for rice export to Egypt.
The MOU, which will be operational for two years, was signed on Tuesday at the company’s 600-metric tonne per hour capacity mill in Bauchi State.
In a statement, the Deputy Managing Director of Tiamin, Aliyu Ibrahim, said the MoU bordered on farming and cultivation of superior quality rice by RIFAN and supplying it to Tiamin to process and package with state-of-the-art milling technology for sales locally and internationally, with particular priority to Egypt.
He said, “RIFAN and TIAMIN share a common agenda in the area of rice farming and milling in order to have a sustainable supply chain management of rice under a partnership that seeks to produce (farm), mill and package processed rice of the highest quality for export and local trading and marketing.”
With a combined capacity of 920 tonnes per hour from its two mills in Kano and Bauchi states, Tiamin is the largest producer of rice in Nigeria.
The company also has a 10,000-hectare rice farm in Udubo, Bauchi State, where large-scale wet and dry season farming is taking place with state-of-the-art agricultural machinery.
Through JAIZ Bank, the company has benefited from six different development finance interventions of the Central Bank of Nigeria (CBN) to the tune of over N20bn and has successfully repaid four of the funds.
Tiamin Rice is also the first corporate entity to access the Private Sector-Lead Accelerated Agricultural Development Scheme (P-AADS) funds of the CBN.