The Ogun State government has generated an impressive ₦1 billion in revenue within just three months of 2024.
This milestone is a direct result of the rice revolution spearheaded by Governor Dapo Abiodun, positioning the state as a player in Nigeria's rice production industry.
The initiative began with a 200-hectare pilot project at Magboro Rice Farm in Obafemi-Owode Local Government Area.
The project yielded an impressive 1,400 metric tons (MT) of rice, equivalent to 20,000 bags of milled rice.
This success translates to an estimated revenue of ₦1 billion every three months, benefiting numerous out-growers, including many youth and women who are new to farming.
Governor Abiodun expressed his enthusiasm for the project's success during the harvesting ceremony. "This is a 200-hectare rice farm.
The farmers are mainly women and youths from all parts of the country and not just from Ogun State alone," he said. "Each farmer was allocated one hectare of farmland; this means that we have 200 farmers in this cluster.
This project started in April this year. They began planting in May, and today we are already harvesting, making it a three-month cycle. It means that we can do this three times a year."
Following the initial success, the governor announced plans to scale up the project to 2,000 hectares, with further expansion to 5,000 hectares on the horizon.
This ambitious plan is projected to generate between ₦10 billion and ₦25 billion in revenue per quarter. "20,000 bags of milled rice per cycle should be estimated to cost about ₦1 billion.
So, these 200 farmers, made up of women and youths across the country who farm here in just three months, have a revenue of ₦1 billion.
If they do this three times this year, they will earn ₦3 billion. We have no business being hungry in Nigeria," Governor Abiodun added.
The rice revolution is part of the Ogun State Economic Transformation Project, supported by the World Bank.
It aims to drive economic growth and development in the state, creating jobs and improving livelihoods within the communities.
With this initiative, Ogun State joins other states like Lagos, Kebbi, and Bayelsa in producing locally grown rice for consumption, fostering economic development, and enhancing food security in Nigeria.
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