Sokoto State Government has signed a Memorandum of Understanding
(MoU) with a Swiss company for the establishment of a N35 billion rice mill in
the state.

The MoU was signed with Novel Management Services- S.A . of
Geneva and an indigenous firm, Novel Commodities Ltd.

A statement issued in Sokoto by Dr Jabbi Kilgori, the
Commissioner for Agriculture, said that the company would produce 200,000 tons
of rice annually and create 10,000 new jobs.

According to the statement, the MoU was signed following its
approval by the state executive council, recently .

“This is in the council’s determination to rapidly utilize
the vast fertile and irrigable fadama lands in the state for large scale
production of rice in line with the national agricultural transformation
agenda.’’

It said under the arrangement, Novel S.A. would provide the
funds, technical and managerial expertise for the design and implementation of
the project .

On its part, the state government would provide 25,000
hectares to the company with a 25-year tenor period, the infrastructure and
part of the cost for the feasibility study, the statement said.

It said Sonovel Rice Ltd, was incorporated to manage the
joint venture partnership .

“The project, planned for implementation in two phases, is
cited within the River Rima basin involving a nucleus farm, an out grower seed
multiplication as well as production system for two rice crops production per
year and a 40-ton per hour rice milling facility, among others.’’

It also quoted Kilgori as saying that the state government
had already intimated the Central Bank of Nigeria, the Federal Ministries of
Agriculture and Rural development, as well as that of Water Resources on the
project.

The Managing Director of Novel Management services, Mr Djack
Kane assured that the company would fulfil its obligations under the partnership