Gov. Umar Bago of Niger, says his administration will likely hit N1 trillion in revenue through the Niger Food Security and Logistics Company, in the next five years. Mr Abdullberqy Ebbo, Special Adviser on Digital Media and Strategy to the governor, said this in a statement on Saturday in Abuja. According to him, the move will employ over 100,000 farmers who will be cultivating over 100,000 hectares across the state. He said that an agreement was signed between the Chairman of Niger Foods, Mr Sammy Adigun, and the Executive Director of TGI Group, Sadik Kassim, a commodity off-takers firm. Ebbo said the signing was witnessed by the Chairman, Union Bank, and the EVC, TGI Group, Malam Faruk Gumel. According to the agreement, the state and the producer shall be responsible for the cultivation, harvesting, aggregation, and sale of rice paddy, soybeans, maize, and sesame seeds to the off-taker. This, he said, includes Tropical General Investments, which would be responsible for the transportation, logistics, and purchase of the produce. Tropical General Investment was part of the conglomerate which included Union Bank, WACOT Rice, Wasil, and Chi groups. He said the transaction involved the production of 600,000 to one million tonne of various produce per annum, concurrently for five years.
Source: News Agency of Nigeria