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Last week, in Anambra State (Igbariam, Anambra East LGA): Coscharis Group opened its new 120,000 metric tonnes per annum Rice Mill. A PPP with the State Government. #InvestNigeria
.@cenbank supported this venture with a 2 billion Naira loan to Coscharis, from the Commercial Agricultural Credit Scheme (CACS). According to Gov Emefiele, Coscharis has already repaid 800 million of the N2 billion.
Construction of the Mill started 2016/2017, it was a follow-up/adjunct project to Coscharis’ 2,000 hectare Rice Farm.
I’m amazed at how much agricultural investment went on in the middle of the 2016/17 recession. Mind blowing. Construction of Olam’s Feed Mill in Kaduna (a $100m Investment) started during recession. FarmCrowdy started during recession too. Presidential Fertilizer Initiative too.
There are several more examples. While the recession hit the economy hard - the ‘hard reset’ it entailed pushed a lot of people and companies to focus on agriculture. Agric was, if I recall correctly, one sector that grew consistently THROUGHOUT the five quarters of recession.
Meanwhile, still on Anambra, I just came across this: Feb 2019 Gov Obiano opened yet another Rice Mill - this time a revived one - in Anambra. “Formerly referred to as Omor Rice mill, Josan Mill used to be the largest rice mill in Nigeria & W/Africa.” google.com/amp/www.absrad…
You’re seeing State Governors actively competing to have their States lead in Rice production. If that’s not welcome news I don’t know what is 🤷🏾♂️
It’s a good thing several Nigerian States have the capacity to grow rice. And different kinds of rice too!
It’s a good thing several Nigerian States have the capacity to grow rice. And different kinds of rice too!
