After building a mega rice mill in Kano, Stallion Group has received certificate of occupancy to build a $10m mill in Ekiti that will process 12-tonne of rice per hour. Firms that partly received N215bn import waivers in 2011-2014 are suddenly opening factories, as policy changes.
Ekiti state governor Fayemi said that in view that the state has a comparative advantage in rice production, noting that his administration will put in place an enabling environment and other incentives that would attract investors like favourable framework, tax relief, security, among others.
West African countries like Nigeria have the necessary resources including fertile land, favourable monsoons and people to be able to achieve total self sufficiency in rice and other staple products. However, a majority of such requirements are imported, utilizing valuable foreign exchange exposing the countries to the vagaries of international commodity pricing.
Stallion group is stablishing world-class rice mills at strategic locations, to promote milling locally. The company works with the farming community and encourages them to use the most recent technologies and practices in farming for increased local production of paddy and other agric based products and thus fosters food sufficiency.