WACOT Rice Nigeria Limited, a subsidiary of Tropical General Investments (TGI) Group, has disclosed that the ongoing expansion of its 120,000-ton rice mill in Argungu, Kebbi State, would be completed in the next 15 months.
Alhaji Farouk Gumel, Chairman of WACOT Rice Nigeria Limited, disclosed this during a visit to update the Kebbi State Governor, Senator Abubakar Atiku Bagudu, on the ongoing expansion.
WACOT Rice is currently doubling the capacity of the rice mill the Vice President, Prof. Yemi Osinbajo, commissioned in 2017. The construction of the new rice mill is being carried out with support from First Bank Nigeria.
Gumel, who reiterated the company’s commitment to the economic development of Kebbi State and Nigeria said WACOT Rice will recruit and train more Kebbi indigenes to beef up its workforce once the project is completed.
He applauded Governor Bagudu for providing an enabling environment for the company to optimally thrive.
Responding, Governor Bagudu commended WACOT Rice Limited for transforming the economic landscape of Kebbi State.
He said that the current expansion of the firm from its initial installed capacity of 120,000 metric tonnes to 240,000 metric tonnes was an indication of the tremendous confidence it had in the economy of Kebbi state and of Nigeria.
Governor Bagudu added that the company was also expressing confidence in the policies of President Muhammadu Buhari aimed at bolstering food production, especially rice.
The Governor further noted that the company has been making tremendous contributions to Kebbi state under its corporate social responsibility projects, including assisting over 300 women to participate in its value chain.
“WACOT in addition to doubling capacity have been of tremendous assistance to Kebbi. They have supported Argungu Fishing Festival, and a lot of our other festivals, they have done a lot of corporate social responsibility. These efforts of WACOT are showing how much Nigeria has and more companies are following suit,” Bagudu added.
The Governor expressed optimism that the price of rice will stabilize soon and that it would be favourable to both farmers and consumers.
WACOT Rice Limited is a member of the Tropical General Investments (TGI) Group, a global conglomerate with majority of its investments based in emerging markets.
TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world class products that are consumed both locally and exported to global markets.