The rice mill in Imota is said to be 22 hectares big, with the mill itself occupying 8.5 hectares. It will be the largest mill in Africa and the third largest mill in the world. The rice mill has a capacity to produce over 3.8 million bags of 50kg bags of rice yearly, while generating 1,500 direct jobs and 254,000 indirect jobs. On completion, in line with the estimated installed infrastructure of the facility, the production capacity of the rice mill in Imota will set it among the largest in the world, and the largest in sub-Saharan Africa.
The Lagos State Government has signed a Memorandum of Understanding (MoU) with WACOT Rice Limited, a subsidiary of TGI Group Tropical General Investments (TGI) Group, to provide operational support and manage the Imota Rice Mill through a Joint Venture ahead of the commissioning.
WACOT Rice Limited is to provide operational support and manage the Imota Rice Mill for nine months in the first instance through Joint Venture. The partnership is subject to renewal subsequently.
Governor of Lagos State, Mr Babajide Sanwo-Olu is expected to hand over the rice mill in the next few months, after which it would commence commercial operation.
Special Adviser to the Governor on Agriculture (Rice Initiative), Dr. Rotimi Fashola, said the Governor believed the mill would be optimised if it had a respectable private brand behind it and a technical support team that could provide intervention towards making the mill sustainable and functional to its capacity.
Group Managing Director of TGI Group, Rahul Savara, said Lagos Government found a great partner in the firm, pledging that the company would be deploying standard technology and services in managing the rice mill.
Other top management staff of TGI Group at the ceremony included the Group’s Executive Director, Jerome Shogbon, Company Secretary, Omowumi Fajemiroye, Head Corporate Communication, Rafiat Gawat, and representative of Banwo & Ighodalo Partner, Azeezah Muse-Sadiq.