Elephant Group Plc has got more than 30,000 rice paddy for processing as the company keys into the Federal Government’s economic diversification move.
Executive Director, Operations of the company Akin Ogunbiyi, who revealed this recently, also noted that Nigeria could become one of the leading nations in rice production.
According to Ogunbiyi, the company wants to cut the gap in the country’s demand for the product.
He said, ‘‘As well as an important food security crop, it is an essential cash crop for it is mainly small-scale producers who commonly sell 80 per cent of total production and consume only 20 per cent. Rice generates more income for Nigerian farmers than any other cash crop in the country.
“Elephant Group is making effective use of its mill and currently producing our own brand of local rice known as Elephant Pride. We get our supply of paddy rice for the mill from across the country, especially the surrounding local communities.
“This has encouraged the local rice grower to cultivate more rice through the out-growers scheme, thereby, expanding the agricultural value chain.”