₦airaland Forum

Ogun govt earns N1billion revenue from rice production, poised to feed the nation

Ogun State government has generated N1billion in revenue within three months in 2024 following the rice revolution embarked on by the state governor, Dapo Abiodun as it's poised to feed the nation.

On Aug 19, the governor announced a significant milestone in rice production in the state as the state government harvested the rice planted in May 2024 at Magboro Rice Farm in Obafemi-Owode Local Government Area of the state.

With an impressive yield of 7 MT per hectare on the 200-hectare pilot project, the state produced approximately 1,400 MT of rice, equivalent to 20,000 bags of milled rice.

This achievement brings in an estimated revenue of ₦1 billion every three months to the state ,directly benefiting the out-growers, including many youth and women who are new to farming.

Following the success of the first harvesting, the governor is now scaling up to 2,000 hectares, with plans to expand to 5,000 hectares, projecting ₦10 billion to ₦25 billion in revenue per quarter.

This latest development has brought Ogun State into the league of rice-producing states in the country

The farm under the Ogun State Economic Transformation Project, supported by the World Bank is the brainchild of governor Abiodun aimed at driving economic growth and development in the state.

Speaking at the occasion to mark the harvesting o f th rice, Governor Abiodun said that with the flag-off, Ogun State is not only joining states like Lagos, Kebbi, and Bayelsa in producing locally grown rice for the consumption of the people, but also fostering economic development, creating jobs, and improving livelihoods within the communities.

He said: "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.

"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," he said.

He added: "20,000 bags of milled rice per cycle should be estimated to cost about N1 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 N1 billion. If they do this three times this year, they will earn N3 billion. We have no business being hungry in Nigeria."

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Go and pay Chinese people their money. You guys are embarrassing others in this contraption.

Hmmm
If this is true
Nice one from Ogun state

More Wisdom to them to provide affordable food for the people

chuxxjr:
✓ Ogun govt earns N1billion revenue from rice production, poised to feed the nation
Ogun State government has generated N1billion in revenue within three months in 2024 following the rice revolution embarked on by the state governor, Dapo Abiodun as it's poised to feed the nation.
On Aug 19, the governor announced a significant milestone in rice production in the state as the state government harvested the rice planted in May 2024 at Magboro Rice Farm in Obafemi-Owode Local Government Area of the state.

Minus cost of production, processing, transportation, storage, etc., the state generated Naira 1 Billion from 200 hectares farm? Na golden rice pellets dem harvest?

11Monkeys:
Go and pay Chinese people their money. You guys are embarrassing others in this contraption.

Abi oo.😂😂😂😂😂😂

COMRADES, is this true or it is just a propaganda and politics?

Make I do the arithmetic first. But as I dey look am these farmers don become millionaires if government deductions no plenty

Ok

Una no dey taya with media propaganda??


Nigeria politicians still using their 1999 formats. They Don forget say the word is Global now.

And we dey see how Thailand government they help farmers in producing and processing rice into quality standards.

APC and Propaganda!
You people should fear God now 😂
1 billion