Stallion Group Targets N30bn In Rice Production

Bank customers making last minute attempt to register for Bank Verification Number (bvn) at Zuba in Abuja last Monday. Photo: NAN

Stallion Group, a major investor in the Nigerian rice industry has in line with its commitment to boost the country’s food security agenda, intensified effort in expanding its operations.
The Group according to a press statement obtained by our Correspondent in Port Harcourt on Monday said it was leveraging on the policy impetus provided by the Federal government’s Agricultural Transformation Agenda with a target investment to exceed N30 billion in the rice supply chain.
According to the statement, Chairman of Stallion Group Sunil Vaswani, said that considering the need for local self sufficiency and alignment with the country’s policy for food security, Stallion was working to improve farm yields in line with sustainable growth”.
The Chairman disclosed an increase in local production of up to 430,000 metric tones per annum with a target for local rice production put at 1.5 million tones through the establishment of more milling capacities and structured farming activities.
Also, the Stallion group boss said the company has established fully integrated rice mills at strategic locations in the country to promote milling paddy cultivation in selected areas.