Standing on an 8.5-hectare land, the facility is an integrated mill with two warehouses and 16 silos of 2,500-ton storage capacity making an overall 40,000 tonnes total storage capacity.
The mill is intended to produce parboiled rice which is the most preferred among the locals and is designed to receive, pre-clean, boil, dry, sort, hull, polish, and bag the rice.
Rice is one of the most consumed staples in Nigeria with a consumption demand of 7 million metric annually and a per capita consumption of 32kg.
The country produces an average of 5MMT annually and relies on imports to offset the remaining deficit of 2MMT.
Consequently, Imota Mill aims to contribute towards eliminating the importation and smuggling of imported parboiled rice as the country eyes sufficiency in the production of the grain.
According to company executives, the mill is expected to improve the country’s capacity for producing local parboiled rice and will position the company to become a leading producer of premium brands in the market.
The sector is critical to the economic growth and development of Nigeria as it will not only enhance the diversification and integration of the economy but also become a major source of foreign exchange earner for the country.
In October 2022, the Lagos State Government signed an agreement with WACOT Rice Limited, a subsidiary of TGI Group, to manage the Imota Rice Mill.
Nigeria opens US$1.5bn Lekki Deep Sea Port
Similarly, President Buhari also commissioned the US$1.5 billion Lekki deep seaport, which is a collaboration between the government and private sector.
China Harbour Engineering Company (CHEC) and Tolaram group own a 75% stake in the new port while the 25% is controlled by the Lagos State Government and the Nigerian Ports Authority.
The port, Nigeria’s largest seaport, has a draught of 16.5 meters to accommodate very large vessels was commissioned on the same day.
Described as a “landmark project” in the state, the seaport is situated at the Lagos Free Trade Zone, Ibeju Lekki.
The president said that the seaport which was built to accommodate larger vessels was technologically driven in line with global developments and its positioning in Lagos as the commercial nerve of the country was strategic.
According to the minister of transportation, Mua’zu Sambo, the port is “Nigeria’s largest seaport which will offer enormous support to the expanding commercial operations in Nigeria and entire West Africa.”