Firm to create 4000 jobs with $100 million rice Investment
Pearl Universal Impex Limited, an Indian company, has invested over $100 million in rice farming in Niger State. The investment is expected to create over 4000 direct jobs once the 7500 hectares acquired under lease from the state government is completely put under use for both rain and dry season rice cultivation.
The Niger State government has hailed the impact of the investment, which is expected to spur appreciable growth in the rice value chain and assist in wealth creation, while also boosting the federal government’s rice sufficiency policy.
Over $4 billion is currently used for the importation of rice, thereby putting pressure on the foreign exchange amid challenges in dwindling oil prices the country is facing.
According to Pulkit Jain, chairman, Pearl Universal Impex, the investment would contribute appreciably to the tune of 40 percent to federal government’s rice sufficiency target.
“We have an overwhelming support from the community knowing that the project has been lying fallow for over thirty years, until when Pearl Universal Impex came on board to show interest and commitment. The government has shown support by leasing out the 7500- hectare land to the company,” Jibril Bukani Usman, consultant, public and community relations, Pearl Universal Impex.
“So far, with the pilot project, currently, we have 450 people being employed. If we cultivate the remaining hectares of land, we should have more than 4000 working on ground, and create 1000 direct jobs, which mean that even the community may not be able to supply enough man power needed to do this job,” Usman said.
According to him the investment will provide more revenue generation for the state. He further stated that it would create more employment for the nation generally which in turn would reduce crime because there would be jobs for the people.
Speaking on the project, Mohammed Sani Dantoro, Emir of Borgu, Niger State, assured the investors of peaceful co-existence, urging them to invest in other mineral resources which are also in abundance in the community.
President Muhammadu Buhari recently kick-started investment drive in the agricultural sector with dry season farming in Kebbi State, with an investment worth of N20 billion of the central bank’s anchor programme that is expected to assist the activities of small holder farmers in the country with the focus on cutting down rice import bill drastically.
“We are currently under studying their investment program which they presented to us to know which of the value chains that we could apply ourselves into, and would enable us develop our state for wealth creation.
By so doing, we would want to absorb our teeming youths and create employment opportunities for them,” Magudu said.
Harrison Edeh