(Ecofin Agency) - Dangote Group has on Monday disclosed plans to invest $450million in agriculture development in Niger State over the next three years.

Aliko Dangote, the President of Dangote Group who disclosed this during the 2017 Niger State Investment Summit in Minna, explained that the funds would be used to establish a large-scale rice processing mill to process over 200,000 metric tonnes of rice paddy as well as a fully integrated sugar refining industry.

“The Dangote Group is committed to investing around $450million over the three next years to establish a large-scale rice processing mill for outgrowers. Our company is also establishing a state of the art fully integrated sugar industry involving the development of over 30,000 hectares of sugar cane plantation and the production of about 500,000 metric tonnes of refined sugar. We are very excited about these investments and look forward to kick-starting this mutually beneficial partnership with the government and good people of Niger State,” he said.

In addition, the company also intends to invest over $1 billion in the production and processing of selected commodities like sugar, rice and tomatoes across the country.

Also speaking at the event, Commissioner for Investment, Commerce and Industry, Ramatu Yardua, noted that agriculture is vital in moving the country out of recession. She added that the state is committed to creating a conducive and enabling environment for potential investors.

Anita Fatunji