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$2 billion : Dangote laments huge forex on rice importation.
Chairman of Dangote Rice Limited, Aliko Dangote yesterday lamented the whooping forex as Nigeria consumes 6.5 Mtn of rice which costs the nation over 2 billion dollars annually, adding that it is heartening that the federal government now has policy direction that encourages private sector’s active participation in agriculture.
He made the lamentation during the launch of the Dangote rice outgrower scheme in Goronyo, Goronyo Local government, Sokoto, which was witnessed by the Sultan of Sokoto, Alhaji Sa’ad Abubakar where farmers were presented with rice seeds, fertilizers, nets, agro-chemicals.
Also, a tripartite agreement spare headed by the company to create jobs for 16,000 outgrower rice farmers in the state signed amid excitement and a pledge by all parties to ensure the success of the scheme to make Nigeria self sufficient in rice cultivation.
The Chairman, Aliko Dangote disclosed that he was mover to go into rice cultivation because of the genuine interest of the Federal government to revive agriculture as the mainstay of the economy, and reduce importation of foods that could be produced locally.
His statement reads, “buoyed by the policy direction of the federal government, we at Dangote decided to key into this by establishing Dan gone Rice Limited to partner with states to redress the present situation where a huge sumo forex is spent on importation of rice.
“In the next three years we want to produce one million tons of quality rice and make it available and affordable to the people. We hope to do 150, 000 ha and when we are done, Nigeria will not have anything to do with importation of rice.
“Dangote Rice outgrowers scheme is committed to creating significant number of jobs, increasing the incomes of smallholders farmers and ensuring food security in the country by providing high quality seeds, fertilizers and agro-chemicals as well as technical assistance on best agricultural practice to farmers.
“This Scheme will help to diversify the economy, alleviate poverty and reduce the nation’s import bill. The scheme has been designed as a one stop solution for the rice value chain,” he explained .
Robert Coleman, the Dangote Rice Project Director, said the Sokoto operation was a demonstration phase to familiarize the farming community with the programme, train extension workers and lead farmers as well as test modern technologies.
He further noted that they would have 25,000 ha cultivated by nearly 50,000 outgrowers in 2017 in addition to hundreds of jobs expected to be created by the end of that year.
Remarking, Governor Aminu Waziri Tambuwal of Sokoto State expressed delight at the event, saying the coming of Dangote to invest in the state was as a result of his sustained effort towards inviting prospective investors to the state.
The governor added that under the scheme, just as it had done with the federal government, would distribute nets, water pumping machines and fertiliser T subsidised prices to help the farmers have good yield.
Similarly, the state Commissioner for Agriculture, Alhaji Umar Tambuwal, disclosed that the scheme would cover 10 local governments in the stated and that the state government is committing several millions of naira to support the famers in the scheme.
According to him, “the farmers participating in the 5000 ha pilot scheme, the state government is giving out free nets to fight against queue a birds during production which is costing the state N48 million. The state will release and sell 5000 units of water pump worth N170 million at a subsidised rate of N10, 000 each.
“We will also distribute 5000 bags rice seed (Faro 44) worth N32.5 million while fertilizer will be sold 50 per cent subsidised rate to complement the outgrower farmers.”
Sultan Muhammadu Sa’ad Abubakar however, commended President Buhari for his diversifying efforts, urging Nigerians to pray for him.
He commended the Sokoto State government for the encouragement and support being given to the outgrowers scheme, saying it is a thing of joy that the state is also involved by way of giving the famers some of the inputs needed so that the scheme could succeed.
The National President of Rice Farmers Association, Alhaji Aminu Goronyo described the scheme as one of the potential means of making rice available and at low cost to the people because the farmers are encouraged to put all their best into it.
He said he has no doubt the scheme would success because it a private sector driven and that given the pedigree of the Alhaji Dangote in business, he was sure there the scheme would be sustainable and sooner than later other states will key into it.
As Christians across the globe celebrate the resurrection of Jesus Christ, the Member representing Ibarapa East/Ido Federal Constituency of Oyo State, Engr. Aderemi Oseni, has urged Nigerians to draw inspiration from the message of Easter to strengthen national unity, renew their hope, and rise above the challenges facing the nation.
In a statement on Friday by his media aide, Idowu Ayodele, and made available to journalists, the lawmaker noted that Easter symbolises the triumph of life over death, hope over despair, and renewal over decay—virtues he described as urgently needed in today’s Nigeria.
He urged citizens to use the occasion as an opportunity to reflect on the country’s journey and commit to a shared vision of progress and peace.
“Easter reminds us that no situation is beyond redemption. Just as Christ conquered death and rose again, so too can our nation overcome its present trials—if only we act with faith, courage, and a common purpose,” Oseni said.
Acknowledging the economic and security challenges facing the country, he stressed the importance of collective resilience and unity among citizens. The lawmaker noted that while efforts are being made to address these issues—with signs of improvement—it is essential for Nigerians to continue supporting the President Bola Tinubu-led administration in its drive for national recovery and progress.
“Our strength lies in our unity,” he said. “We must resist the temptation to be divided by ethnic, religious, or political differences. Easter calls us to a higher sense of responsibility—to forgive, to heal, and to build together.”
Oseni, who also chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), reaffirmed his commitment to grassroots development, and national transformation through quality infrastructure and people-centered legislation. He promised to continue using his position to advocate for policies that improve the welfare of his constituents and all Nigerians.
The APC chieftain further urged Christians to go beyond the rituals of Easter and live out its message in their daily interactions. “This season should inspire us all to be better citizens, better neighbours, and better leaders in whatever space we occupy.”
The lawmaker concluded his message with prayers for peace, stability, and renewed hope across the country, saying, “May this Easter mark a turning point in our collective story as a nation. May Nigeria rise, like Christ, into a new dawn of greatness.”
The Federal Government has declared Friday, 18 April and Monday, 21 April 2025 as public holidays to mark Good Friday and Easter Monday celebrations across the country.
This was announced in a statement issued on Tuesday by the Permanent Secretary of the Ministry of Interior, Dr Magdalene Ajani, on behalf of the Minister of Interior, Dr Olubunmi Tunji-Ojo.
“Announcing this on behalf of the Federal Government, the Minister of Interior, Dr Olubunmi Tunji-Ojo extended heartfelt congratulations to Christians across the country on this joyous occasion,” the statement read.
The Minister emphasised the significance of Easter, urging Christians to reflect on the virtues of sacrifice, love, and selflessness exemplified by Jesus Christ, who laid down His life for the redemption of humanity.
Dr Tunji-Ojo also encouraged Nigerians to use the holiday period to offer prayers for peace, unity, and stability in the country. He reaffirmed the commitment of President Bola Ahmed Tinubu’s administration to the Renewed Hope Agenda, aimed at driving national growth and development.
In his message, the Minister called on citizens to extend love and goodwill to their neighbours through acts of kindness and generosity, embodying the spirit of Easter.
He concluded by wishing Christians a blissful Easter celebration and extended warm holiday greetings to all Nigerians.
There was pandemonium on Tuesday at the Ibadan outlet of CBEX, a digital trading asset firm, as angry investors stormed the premises in protest, vandalising property and looting valuables.
The unrest, which occurred in the Oyo State capital, was triggered by reports that investors had been unable to access or withdraw funds from their accounts on the platform for several days. Matters escalated when many of them reportedly discovered that their investments had completely vanished.
The protest, initially peaceful, quickly degenerated into violence, resulting in looting and physical assaults on some staff members of the firm. Witnesses say the situation became uncontrollable as emotions flared and the aggrieved investors accused the company of operating a Ponzi scheme.
The affected investors were said to cut across various walks of life, including artisans, traders, and civil servants, all of whom had put their trust—and money—into the digital trading venture.
It took the intervention of security operatives to restore calm and disperse the rampaging crowd. Officers have since cordoned off the building and maintained a presence overnight to forestall further breakdown of law and order.
As of Wednesday morning, normalcy had returned to the area. Vehicular and pedestrian movement has resumed, with business activities gradually picking up.
Authorities are yet to issue an official statement on the matter, but concerned stakeholders are calling for a thorough investigation into the operations of CBEX to protect future investors from similar occurrences.
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