• Monday, July 22, 2024
businessday logo


WACOT Rice signs new deal with LASG to manage Imota Rice Mill

WACOT Rice completes Argungu out-grower expansion programme

WACOT Rice Limited, a subsidiary of TGI Group, has entered into a new partnership deal with the Lagos State Government (LASG) to manage the Imota Rice Mill.

The 32-metric tons Imota Rice Mill will be handed over to WACOT Rice Limited in the next few months to commence commercial operations under the company’s management.

At the agreement signing event, Babajide Sanwo-Olu, the governor of Lagos State, said the government decided to let WACOT manage the mill due to its expertise and competence.

He added that Lagos 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 the state’s increasing demands.

“Lagos State Government has set up two lines of 16 metric tons per hour capacity rice mill in Imota, Ikorodu to meet the high demand for consumption of rice in the state. This is expected to push the state towards self-sufficiency in the area of rice production and processing,” he said.

Rafiat Gawat, head of corporate communications of TGI Group, said, the firm was happy to partner with the state.

Read also: Association solicits govt partnership to boost rice production

“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,” he said.

Neeraj Tyagi, managing director of WACOT Rice, expressed excitement at the opportunity, stating that the company’s experience in delivering premium quality Big Bull rice will come to bare in the technical support partnership with the Lagos State Government.

“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,” Tyagi added.

WACOT Rice Limited is a member of the Tropical General Investments (TGI) Group, a conglomerate with its most investments in emerging markets.

TGI focuses 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.

will mostly seek causes and opportunities that speak broadly and primarily to digital and financial inclusion as well as the adoption of schools.