*Plantation to supply up to 70% of Nigeria’s consumption
*Lagos provides funding, Kebbi provides land and labour
*Lagos consume 6,000 herds of cattle daily, 798k metric tonnes per year (N135 billion per year)
With the aim to shore up its internal generated revenue, IGR, the Lagos State government, South West Nigeria and its Kebbi state counterpart have signed a memorandum of understanding, MoU, to produce for rice production.
It is estimated that the rice plantation could meet up 70% of Nigeria’s local consumption. According to the MoU, Kebbi state with a large land mass and proper condition for growing of rice will provide the land and labour while Lagos state with a stronger finacials will foot the bill of the project.
According Ambode, the Lagos state governor, because of its large population, the state is the largest consumer of food commodities in Nigeria. Lagos consume about 798000 metric tonnes of rice per year (N135 billion per year) 6,000 herds of cattle daily, which will increase to 8000 herds in the year 2021.
If the MoU is properly implemented, the project will shore up Lagos’ revenue significantly. Lagos currently rakes in N25 billion monthly IGR. The state is also investing in various private, public partnerships, PPPs in real estate, electricity generation and transportation.
Kebbi, a less-financially bouyant state will benefit via increased IGR and more importantly mass employment for its youths, a move that would curb the menace of the Boko Haram terror group from recruiting idle youths in the North East and North West.