In an affirmation of the expertise and competence of WACOT Rice Limited, the Lagos State Government on has signed an agreement with it to manage the Imota Rice Mill.
The leading rice-producing company is a subsidiary of Tropical General Investments (TGI) Group.
According to the arrangement, the 32-metric tonnes Imota Rice Mill will be handed over to WACOT Rice Limited in the next few months, with commercial operations commencing under the company’s management.
At the agreement signing event, Governor Babajide Sanwo-Olu explained that the government decided to let WACOT manage the mill because of its expertise and competence.
He added that the state hopes to benefit from WACOT’s experience and expects improvements in quality, capacity, packaging, and general rice production at the Imota Rice Mill to meet increasing demands.
Sanwo-Olu said: “Lagos State Government has set up two lines of 16 MT/hour capacity rice mill, in Imota, Ikorodu, Lagos State to meet the high demand for consumption of rice in Lagos State thereby pushing Lagos State towards self-sufficiency in the area of rice production and processing.
“Lagos State Government is desirous of operationalising the Imota Rice Mill through the technical services of WACOT Rice Limited, a subsidiary of TGI Group, of providing commissioning and kick-off operationalization support services”.
Head of Corporate Communications at TGI Group, Rafiat Gawat said: “We are happy to partner with Lagos State as our economic core. Since setting up the WACOT Rice Mill in 2017, we have produced premium quality Big Bull rice, which is available across the country. Currently we are expanding to double our production capacity in the coming months. Though our factory is located in Argungu, Kebbi State, much of our rice is demanded in Lagos. The Lagos Government’s partnership with us is a testament to our capability”.
Other top management staff of TGI Group at the signing ceremony included the Group’s Executive Director, Jerome Shogbon; Company Secretary, Omowumi Fajemiroye; and Partner of Banwo and Ighodalo, Azeezah Muse-Sadiq.
On the development, Managing Director of WACOT Rice, Neeraj Tyagi expressed excitement at the opportunity, stating that the company’s experience in delivering its premium quality Big Bull rice would come to bare in this technical support partnership with the Lagos State Government in order to deliver the best.
“It is our hope that by sharing our technical expertise and global best practices through effective knowledge transfer, we will be able to assist the state in starting its journey towards self-sufficiency in rice production”, he said.
WACOT Rice Limited is a member of TGI Group, a global conglomerate with the most investments in emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world-class products consumed locally and exported to global market.
