WALE Edun, the Minister of Finance and Coordinating Minister of the Economy has restated President Bola Tinubu’s commitment to bolstering local economies and tackling the challenges posed by natural disasters.
He made the commitment when he paid a courtesy visit to WACOT Rice Limited’s cutting-edge 250,000 metric tonnes rice processing facility in Argungu, Kebbi State.
Edun who was accompanied by the Governor of Kebbi State, Dr. Nasir Idris and the Minister of Budget and Economic Planning, Senator Atiku Bagudu, toured the state-of-the-art facility to inspect the rice production processes, in readiness for the wet season harvest expectations.
He lauded WACOT Rice for its significant contributions to the national economy, stressing that the facility supports thousands of farmers through an extensive procurement network and an 8,000-strong out-grower farming programme, positioning it as a key player in Nigeria’s economic landscape.
The Minister’s tour also included visiting a nearby rice farm severely impacted by ongoing floods, emphasizing the urgent need for robust disaster management strategies.
Reflecting on the gravity of the situation, Edun emphasized the Federal Government’s proactive measures to address these challenges, including the allocation of N3 billion to each of the 36 states and the Federal Capital Territory by the National Economic Council (NEC).
“This funding is essential to combating and mitigating the effects of flooding, particularly as we prepare for the 2024 rainy season harvest. Our focus is on supporting our farmers and safeguarding the agricultural sector, which is the backbone of our economy,” he said.
Edun also commended the resilience of the Kebbi State community under the leadership of Governor Idris, reaffirming President Tinubu’s dedication to enhancing security and increasing the region’s productive capacity.
He called on the private sector to continue investing in agriculture, bolstering efforts towards Nigeria’s journey to food security.
Farouk Gumel, Chairman of WACOT Rice and Vice Chairman of TGI Group, while commenting on the Minister’s visit, said, “We are humbled to have received the Honourable Ministers, the Governor, and their teams at our facility. It is also timely because it’s been almost a year since we started operating the second phase of our rice mills, bringing our capacity from 120,000MT to 250,000MT.
He said that the visit reaffirms the government’s recognition of the critical role the agricultural value chain plays in driving Nigeria’s economic development.
Gumel expressed his gratitude for the government’s intervention, stating that the Federal Government’s support is crucial for people in states like Kebbi, where agriculture is a lifeline for many.
“At TGI Group, we are committed to partnering with all stakeholders to strengthen agricultural production. With sustained investment and a clear focus on food security, Nigeria is well-positioned to not only become self-sufficient in food, but also able to feed others.”
