Olam targets 310,000 MT of rice in 2years

The federal government’s rice sufficiency initiative is constantly getting the support of Olams Rice Farms with the current yearly production of 105, 000 metric tonnes (MT) and the target of 310 000MT. The firm is also planning wet and dry season farming within the next two years to stem Nigeria’s annual consumption of 5.5 million MT of rice.

The federal government, under Goodluck Jonathan, had intensified support on local rice production in line with a presidential directive to boost rice sufficiency, but President Muhammadu Buhari is keeping hope alive, having already supported rice farming with Central Bank’s N4 billion Rice Intervention Fund to Kebbi State, with a view to boosting production in several states, including Ebonyi.

The government has just launched N20 billion Agric Finance Initiative of the Central Bank of Nigeria, with the target of supporting 600 000 rice farmers across the country.

President Buhari, during the launch of Agric Finance Initiative in Birnin Kebbi, said: “The discovery of oil was expected to compliment our agriculture productivity. But we allowed oil to almost completely‎ replaced it. Our current trend at the international oil market had brought to fore the urgent need to diversify both the productive and revenue based of our economy and to conserve our foreign reserve by limiting our appetite for importation of goods that we can easily produce locally.”

Mahesh Nimje, head of sales and distribution, Olams Rice Farm, told Businessday during a facility tour in Nasarrawa state that the company would continue to demonstrate capacity in the federal government’s initiative with its current production of 105 000 metric tonnes annually, adding that it is in full support of agricultural policies that encourage local production for wealth creation and ensuring food security.

“We had held meeting with the Minister Audu Ogbe, and he has assured us of the federal government’s support in encouraging local rice production for food security and wealth creation, as he revealed during the meeting that the government has the challenged us to constantly demonstrate capacity on self sufficiency in food,” Nimje said.
It would be noted that Nigeria has been importing to the tune of N365 billion , which is really putting pressure on NIgeria’s foreign exchange, prompting the government to support local initiative of rice production.

Analysts believe that with consistency of policies as demonstrated by the government in rice sufficiency initiative of the federal government, farm owners, farmers and marketers would keep up with seamless collaboration that would ensure food security in the country.

Rice is one of the staple foods in the country, and findings reveal that virtually all homes in Nigeria consume rice.

The Olam rice farm currently has 900 workers, many of who are women, but findings reveal that the workforce increases to 3000 mainly at the harvesting time.

Ifeanyi Okeke, head of Rice Dealers Association in Aba, during the tour, said:”Am proud of them because they are boosting local content and are on ground as indigenous company producing the Mama’s Pride rice and are the only Nigerian company that is producing inside the country, creating wealth for the people.

Apart from rice production, Olam has also been ranked high in non oil export contribution, with its products on cocoa, cashew, sesame seeds.

“We are currently in 65 countries across the world, but we have singled out Nigeria as a major developing country with huge raw materials that could keep us on track with our vision. In Nigeria’s non oil sector, we are the highest, and with the Federal governments focus on the non oil sector, we would keep up our support for the government,” the managing director for export explained.

Mahesh Nimje, head of sales and distribution, Olam rice, with other sales representative at Olam rice farm in Nasarrawa state.

Harrison Edeh