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WACOT to increase production capacity to 240,000mmts –Bagudu

The Kebbi State Governor, Alhaji Atiku Bagudu, says Nigeria is an investment destination even as the West African Cotton Limited (WACOT) plans to double capacity in Argungu Local Government Area of the state.

Bagudu stated this when he visited WACOT rice company where he had a meeting on Friday with the Managing Director of First Bank, Dr Adeshola Adedetun, and officials of the company in Argungu.

 

He said: “WACOT has demonstrated that Nigeria is an investment destination today as they are announcing to double capacity in this very location.

“This is the result of the policies and programmes put in place by President Muhammadu Buhari whose support to industrialists, paved the way for the establishment of 47 large scale rice mills in the country.

 

“This boosted rice production, facilitated the attainment of self-sufficiency in rice production in Nigeria, and put to an end the importation of the commodity, and encouraged many people to engage in agriculture.”

Bagudu also promised to make land available to the company for the expansion as well as a model of rice outgrowing scheme for farmers.

“WACOT as a company in Argungu, has been doing a lot of corporate social responsibility that we are proud of.

“They are supporting our festivals and communities and they have been involved in anything that affects Kebbi State since when they came to the state. “We will make available land for them to expand the model rice outgrowing scheme so that our farmers will learn and continue to learn.

“They have, however, spoken of the plan to do a rice academy where younger ones will learn optimum production, and we will make land available for them,” he said.

 

The governor also commended the Central Bank of Nigeria (CBN) and the First Bank of Nigeria (FBN) for their sustained support to the agricultural sector, saying it had helped the country to attain its target on food security.

 

Earlier, the Chairman of the WACOT Rice Mill, Alhaji Faruk Gumel, disclosed that the company’s current capacity was 120,000 metric tonnes per annum.

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