The Niger State Government has entered into an agreement with the Lagos State Rice Mill and Lagos Commodity Future Exchange to produce 300,000 tons of paddy rice annually on 50,000 hectares of farmland in Niger State.
The collaboration is part of a Memorandum of Understanding (MOU) signed between the Governors of Lagos and Niger states, Babajide Sanwo-Olu and Mohammed Umar Bago, respectively, focusing on food production and supply.
Under the agreement, Lagos State is expected to become the major off-taker of paddy rice from Niger State, with a 3-year off-take program aimed at enhancing rice production and aggregation.
The signing ceremony took place at the Government House in Minna, where representatives from both states and the Lagos Commodity and Future Exchange finalized the MOU.
”The collaboration is aligned with President Bola Tinubu’s food security agenda, and it underscores efforts to strengthen agricultural ties between states for mutual benefits and private sector growth,” Governor Sanwo-Olu said.
Additionally, the Lagos Commodities Exchange is set to raise N100 billion in food security funds from the capital market to support the commodity ecosystem in Niger State.
The partnership, known as the “Produce for Lagos Initiative,” is part of the Emergency Food Security Initiative, aiming to cultivate thousands of hectares to maintain a consistent food production and supply chain.
”The initiative reflects the commitment of both states to collaborate and leverage their unique advantages to ensure a steady flow of agricultural products to consumers.
”This collaboration follows similar efforts in the past, such as the 2016 memorandum of understanding between Lagos and Kebbi states for the production of made-in-Nigeria rice, known as LAKE rice.
”The renewed focus on agricultural partnerships aims to achieve sustainable food production and enhance economic growth in both states,” the Lagos state governor added.