WACOT Rice Limited has signed a $10.5 million (about N4.99 billion) co-investment partnership with the USAID-funded West Africa Trade and Investment Hub (WATIH) to support the company’s Rice Outgrower Expansion Project in Argungu, Kebbi State.
Under this partnership, WACOT Rice Limited, which is a Nigerian based subsidiary of TGI Group, will register an additional 5,143 farmers to complement its out-grower network in the state.
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This deal is expected to increase the area of production by more than 5,000 hectares of land, producing an estimated 20,000 metric tonnes of paddy, which will be utilised at WACOT Rice’s 120,000-ton rice mill in Kebbi where its premium household brands of parboiled rice ‘Big Bull’ originates.
Speaking on the deal, Kebbi State Governor, Senator Abubakar Atiku Bagudu was elated that the efforts of the federal government in agricultural revolution paying off through recognition by international bodies like USAID and WATIH.
On his part, the Emir of Argungu, HRH Alhaji Samaila Muhammad Mera described the partnership and the investment by WACOT Rice as a welcome development.
The Strategy and Business Development Manager of TGI Group, the parent company of WACOT Rice, Habiba Suleiman, said the partnership will enhance yield per hectare and help farmers better their livelihoods.
The Group Managing Director of TGI Group, Rahul Savara laid emphasis on the Group’s mission to always add value to its communities.
