Lagos State Government has signed a Memorandum of Understanding (MoU) with Yihai Kerry Arawana Holdings Co. Limited, a leading Chinese food processing company, to transform the rice value chain and enhance food security in the state.
Governor Babajide Sanwo-Olu, currently in China for the Forum on China-Africa Cooperation (FOCAC), witnessed the historic signing ceremony alongside top officials from both parties.
Dr. Oluwarotimi Fashola, Special Adviser to Governor Sanwo-Olu on Agriculture (Rice Mill Initiative), represented the Lagos State Government, while Mr. Wang Wei, Group Director, Rice Industry Division, Yihai Kerry Arawana Holdings Co. Limited, signed for the Chinese company.
This strategic partnership aims to boost rice production, create jobs, and stimulate agricultural growth in Lagos State.
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Governor Sanwo-Olu emphasized the importance of investing in agriculture to achieve food security, highlighting the Imota Rice Mill’s potential to generate 1,500 direct jobs and over 250,000 indirect jobs.
The collaboration will leverage Yihai Kerry Arawana Holdings Co. Limited’s expertise in integrated rice business, covering cultivation, processing, and distribution, to enhance agricultural productivity in Lagos State.
With the establishment of a 32-metric-tonne per hour capacity rice mill in Imota, Lagos State is poised to meet the high demand for rice consumption and become a hub for rice production.
This partnership marks a significant milestone in the Babajide Sanwo-Olu administration’s quest for agricultural revolution and food security.
As Lagos State Government continues to prioritize agricultural value chains, this collaboration with Yihai Kerry Arawana Holdings Co. Limited is set to revolutionize rice production and stimulate economic growth in the state.
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