The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has emphasized the Federal Government’s determination to sustain growth in Nigeria’s agricultural sector during a visit to WACOT Rice Limited’s 250,000 metric tonne rice processing facility in Argungu, Kebbi State.
In a statement released on Sunday, the visit highlighted President Bola Ahmed Tinubu’s dedication to strengthening local economies and tackling natural disaster-related challenges.
Edun, accompanied by Kebbi State Governor Nasir Idris and the Minister of Budget and Economic Planning, Senator Atiku Bagudu, inspected the advanced facility in preparation for the upcoming wet season harvest. He commended WACOT Rice for its significant role in supporting Nigeria’s economy, stating, “WACOT Rice has been instrumental in supporting thousands of farmers and greatly contributing to the national economy. This facility is a vital component of our agricultural infrastructure.”
Farouk Gumel, Chairman of WACOT Rice and Vice Chairman of TGI Group, expressed his gratitude for the ministers’ visit, noting that it coincided with the near-completion of the second phase of their rice mills, which increased their production capacity from 120,000 metric tonnes to 250,000 metric tonnes.
“The ministers’ visit reaffirms the government’s recognition of agriculture’s crucial role in Nigeria’s economic development. The expansion of our rice mills enhances our capacity to support local farmers and boost food security,” Gumel said.
Edun also highlighted the Federal Government’s efforts to address challenges in the agricultural sector, including the allocation of N3 billion to each of the 36 states and the Federal Capital Territory by the National Economic Council.
“The recent floods have severely impacted the agricultural sector. The N3 billion allocation to each state is a crucial step in mitigating these effects. We remain committed to supporting our farmers and protecting the agricultural sector as we prepare for the 2024 rainy season,” Edun added.
