We have always known Coscharis to be a major player in the automobile industry. What informed your investment in Nigeria’s agricultural sector?

Unfortunately, lots of people thought that Coscharis derives its position of success from the auto industry. We have been around for 46 years and our experience in the auto industry is barely 20 or 22 years. Our core business can be regarded as the pharmaceutical of the automobile. Anybody that drives a car in Nigeria is our customer and that is what is keeping us going. The automobile industry is growing but it is subjected to lots of variables such as government policy among others. It will be a surprise and a shock if I tell anybody that from January to date that I have not sold up to 30 Jaguar Land Rovers and 30 units of BMW. Our principals can testify because they ship the cars and would tell you how many they have shipped. That is why when we heard the story of smuggling, it can be another company and not Coscharis because I did not see what benefit it would be for me to smuggle less than 30 cars as a business to jeopardise the overall interest of our organisation.

Our involvement in agriculture is not an accident as Cosharis has been playing a critical role in every sector of the economy. We are involved in pharmaceutical, medical equipment, information technology, mobility services and even the production of sachet water, as long as it is a legitimate business. Our rice farm has been a long-term plan. The piece of property where we are growing our rice is 32 years old. Emeka Omeruah was the governor of Anambra State – as a military administrator – when we purchased the land and got the certificate of occupancy. We have always known that this is what we are going to do. We only waited for an opportunity to present itself and when it was ripe to move, we did. We ensure that we built enough equity within the company and leveraged on borrowed funds to go into the integrated agro-industry from seed production to mechanised farming, processing, and packaging. It is a fully integrated farm.

Once you do something of the international standard it attracts the attention of the international community. We have had an international investor in the name of Sahel who has brought in a lot of things to the board. Working with Sahel has helped us understand the need for compliance with how to run these plants. They brought new ideas to the board and how to ultimately make the business a success. We desire that in another four years or five, Coscharis Farms will be listed on the Nigerian Stock Exchange and people will see the performance and the result that will come out. Our idea is to get Nigerians to share from the wealth we are creating.

Anambra state has a comparative advantage in vegetable production so why rice production in particular?

I think we have a more comparative advantage in rice production than vegetables, because if you look at the density of the population in Ebonyi, Imo, Delta, Abia, Enugu states that are surrounding Anambra and you understand that rice is wheat that grows on a mud. All you need to do is get a muddy area in which Anambra state has lots of river basin area for it. Rice grows well and better in Anambra than it can grow anywhere. We need to grow and mill rice in Anambra to service the eastern region. If you produce rice in Kano and bring it to Anambra there will be a difference of about N1,500 to N2,000 on transportation. Rice is as heavy as cement and the cost of transportation plays an important role in the ultimate cost of it. In the future, we will do something in Lagos or the southwest area to target those markets. Once we perfect our first mill and rice farm in Anambra, we would move to other states and regions. We have been given 20,000 hectares of land in Kogi state and we would take them one step at a time. We would take the business where they belong and where value can be added. Our first goal is to solve the food problem in Anambra State and the eastern axis. Once we do that we have the opportunity and experience to replicate it in other parts of the country.

Do you think the recent border closure is the right way to go in tackling the smuggling of food items?

The government has reasons for whatever they do and it will be wrong for me to say if it is a wrong decision. Until you hear their reasons behind it then you will know whether there are merits to it or not. But I think that as a country we should work hard to foster the economic cooperation of West Africa because Nigeria will benefit more than in other countries. The Germans and France were behind the European Union and these are the two strong economic producers in Europe that galvanise the others to form the EU to be able to sell their products and have free trade. If we continue to close the border, whether it ultimately benefits us or not I do not know but I will tell you that it is value-added like everything in life there are positives and negatives.
The positive of it today is that rice smuggling has reduced but it does not stop people from smuggling rice. What we need to do is to support farmers to grow capacity. As capacity grows, prices will drop; as prices drop it becomes uncompetitive for smugglers. As a farm, there are many things we have done which ordinarily should be the government doing. Take for instance; we spent N3 billion providing irrigation for our farms. Irrigation should be a government project to support the farms. If these infrastructures are given and capacity is built continuously, prices of a bag of rice will be drastically reduced and it will address smuggling.

Why is Coscaris rice not available in major rice markets in Lagos as the state consumes over 70per cent of rice in the country?

Many traders are re-bagging our rice into foreign brands because they say our rice is not of local quality and this is why you do not see them in the markets. We have stopped two of our distributors because of this.

What type of reforms would you want to see the government come up with to ensure that Nigeria attains self-sufficiency in rice production?

There are lots of policies the government has put in place today that are working. They are supporting out-growers farmers; they are providing funds for serious investors like us. We have access to a N6billion loan from the central bank at 9percent which is still better than borrowing at 20 percent to do farm. I think the government should not ask for more than 5 percent because this is a way to support the farm. If we can spend so much amount of money on petroleum subsidy that we do not eat, then we should give farmers loans at zero interest rates as this is a way to counter competition for foreigners. No nation grows without feeding its people. The government should do more in agriculture and education. They should realign their priorities.

In your assessment, how would you evaluate the Anchor Borrowers Scheme?

I understand it is not working in some states but it is working in Anambra state. The programme in Anambra will be a model that other states can emulate. What we are trying to do now is to further partner with the farmers by giving them a high-yielding seed variety. We do not want to give them our seeds to double their yield and they sell to other millers, and then we have worked in futility.

What are the problems with Nigeria’s rice industry?

Flooding is a big problem in the industry. Last year, our farm was overtaken by the flood. The Vice President visited to see the extent of the damage. We suffered a loss of over N2billion; some of our tanks collapsed because of the water level. The Vice President promised that we would be compensated but we never got anything. We later read in the newspapers that the Executive Council budgeted and approved N7billion but Coscharis did not get anything and we are still wondering who the beneficiaries were. There are also community issues but we have experienced peace in Anambra with our host community

https://businessday.ng/agriculture/article/we-want-to-list-coscharis-farms-on-the-nigerian-stock-exchange-in-five-years/
Lalasticlala

He have not tasted Ishiagu rice

Of course, Igboland is fertile,if you think say na lie ask abakaliki people..

Opportunities abound but government must play her role.

Lol@Lagos consumes 70% of Nigeria's rice. All manners of Oluwole statistics going round Nigeria

Smart man.... And for the odes that think igbo land isn't fertile,well, you can stay submerged in your stupid hallucinations while we keep getting g better.

As an independent country, we will feed hungry Aboki people. We will feed Africa.
God bless Alaigbo
God bless Ndigbo
God bless Biafra

Only the East thinks ahead in this shithole.

Good news.

More Nigerian millionaires and billionaires should invest in mechanised agriculture.

kollinzgee:
Of course, Igboland is fertile,if you think say na lie ask abakaliki people..

but the assertion is wrong

rice is not only about fertile land

BKayy:
As an independent country, we will feed hungry Aboki people. We will feed Africa.
God bless Alaigbo
God bless Ndigbo
God bless Biafra

why the Bleep are you now posting that pic?

theInterpreter:
but the assertion is wrong

rice is not only about fertile land

I DON’T KNOW WHY THIS SAHELIAN ALWAYS DEVELOP HIGH BLOOD PRESSURE AT THE MENTION OF THE WORD IGBO

IJOBA11:
I DON’T KNOW WHY THIS SAHELIAN ALWAYS DEVELOP HIGH BLOOD PRESSURE AT THE MENTION OF THE WORD IGBO

obalola55 better mind your business and ffuck of

before I change it for you

theInterpreter:
why the Bleep are you now posting that pic?

So that your Afonja prick will stand from now till 6, 0'Clock in the morning.
You know you afonjas can't stand the sight of a pretty Igbo lady.

This man should keep quiet, which rice ?which land?



It is the North that feed this whole country, don't change the narrative



North2023
All souths take note

Blackfire:
This man should keep quiet, which rice ?which land?



It is the North that feed this whole country, don't change the narrative



North2023
All souths take note

https://www.youtube.com/watch?v=sI_RTcu9HW4

BKayy:
So that your Afonja prick will stand from now till 6, 0'Clock in the morning. You know you afonjas can't stand the sight of a pretty Igbo lady.

lol dem plenty for olosho house for SW
na dem dey run the olosho work for Naija

theInterpreter:
lol
dem plenty for olosho house for SW

na dem dey run the olosho work for Naija

You wish. Lol
Your prick says otherwise. All you people do is live to dream see an Igbo fairy, then wake to roam about in other to dream again.

BKayy:

You wish. Lol
Your prick says otherwise. All you people do is live to dream see an Igbo fairy, then wake to roam about in other to dream again.

come Ogun State
we go show you

even the decent ones sef
Yoruba demon don pepper dem taya
na why dem dey turn feminist

theInterpreter:
come Ogun State
we go show you

even the decent ones sef
Yoruba demon don pepper dem taya
na why dem dey turn feminist

See the way you balance dey fantasize about Igbo angels.
Well no Shame in it. It is exactly what you people are created for
Maybe I will give one more pic to droll over

theInterpreter:
why the Bleep are you now posting that pic?

..

loveth360:
..

James anya Lekwa. Igbere TV owner.. And family

loveth360:
..

and what's my business with your family?

theInterpreter:
and what's my business with your family?

THIS FULANI MAN AGAIN

The same north wey children de carry plates from gate to gate, you can't even feed yourselves and you're talking about the nation.

Blackfire:
This man should keep quiet, which rice ?which land?



It is the North that feed this whole country, don't change the narrative



North2023
All souths take note

Igbo girls are doing well for sure. Current miss world Nigeria is Igbo, first runner up is Igbo, 2nd runner up Is Igbo as well
Former miss Nigeria is Igbo(2019-2020),
2018- Igbo
2017- Igbo
2016- Igbo
2015- Igbo

BKayy:

See the way you balance dey fantasize about Igbo angels.
Well no Shame in it. It is exactly what you people are created for
Maybe I will give one more pic to droll over