NIGERIA—The Ogun State Government has reported revenue of US$1.3 million (N1 billion) from its rice revolution project within three months.
Governor Dapo Abiodun made this announcement on August 19, during the harvest ceremony at the 200-hectare Magboro rice farm in Obafemi-Owode Local Government Area.
The project began in April 2024 and is poised to become a cornerstone of Ogun State’s agricultural agenda, providing employment opportunities and raw materials for the state’s industries.
The pilot project, which spans 200 hectares, achieved an impressive yield of seven metric tonnes per hectare, resulting in approximately 1,400 metric tonnes of rice.
This production translates to 20,000 bags of milled rice, generating an estimated US$1.3 million (N1 billion) in revenue every quarter. The initiative primarily benefits out-growers, including a significant number of youths and women who are new to farming.
Inspired by the project’s success, Governor Abiodun revealed plans to scale up the initiative to 2,000 hectares, with an eventual goal of expanding to 5,000 hectares.
The scaled-up project is projected to yield between US$13 million and US$32 million (N10 billion to N25 billion) in revenue per quarter.
The rice farm is part of the Ogun State Economic Transformation Project, supported by the World Bank, aiming to drive economic growth and development.
Governor Abiodun emphasized that Ogun State is joining the ranks of states like Lagos, Kebbi, and Bayelsa in producing locally grown rice, thus contributing to national food security, job creation, and community development.
“This project has demonstrated that we can achieve remarkable success within a short period,” said Abiodun. “With just 200 hectares, we generated US$1.3 million (N1 billion) for 200 farmers in three months. By scaling up, we can significantly contribute to making Ogun State the food basket of Nigeria.”
The governor underscored that this project aligns with the federal government’s mission to eradicate poverty and hunger, providing affordable food for Nigerians.
This initiative is particularly notable in the broader context of Nigeria’s rice production challenges. Despite efforts to increase local rice output, the country still faces a significant shortfall, meeting only 57% of its annual demand of 6.5 million metric tonnes.
This gap has led to rising rice prices, exacerbated by issues like “internal smuggling,” where locally grown rice is repackaged in foreign bags to fetch higher prices.
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