• Thursday, December 07, 2023
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Johnvents kicks off pact with LASRICO with initial offtake of 5,000 bags of rice for distribution

Johnvents kicks off pact with LASRICO with initial offtake of 5,000 bags of rice for distribution

Johnvents Group, an indigenous agribusiness and member of CapitalSage Holdings, which entered into a partnership with the Lagos Rice Company (LASRICO) recently, has said it had already made an initial offtake of 5,000 bags of rice for nationwide distribution.

It has also reaffirmed its commitment to advancing Nigeria’s commodity exchange.

The partnership was announced at the official inauguration of the N5billion series of the Eko Rice contracts programme on the Lagos Commodities and Futures Exchange in Lagos, where Johnvents was unveiled as a leading trading and distribution partner of Eko Rice with the initial offtake of 5,000 bags for nationwide distribution.

“As a leading player in the agribusiness sector, Johnvents is committed to collaborating with the government to achieve its goals. We aim to ensure that the entire value chain, encompassing production, quality trading, value addition, manufacturing and distribution, leverages our extensive experience, strength, and reach for maximum benefit,” John Alamu, Group Managing Director, CapitalSage Holdings (owners of Johnvents Group) stated.

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Alamu further emphasised the significant potential of Nigeria’s agricultural value chain to enhance food security and drive economic growth. According to him, Johnvents remains dedicated to fulfilling its commitments through tangible solutions, proactive measures, strategic collaborations, and investments in agribusiness value chain.

“In the modern, interconnected global landscape, marked by complex markets, collaboration has become a vital catalyst for innovation, productivity, and competitive advantage. We acknowledge the efforts of state and federal governments’ renewed focus on commodity exchange to develop and fix the commodity ecosystem,” Alamu stated.

Febisara Hassan, managing director, Johnvents Foods Limited, said that the group is making remarkable progress regarding food security and remains dedicated to enriching the agricultural value chain and boosting economic growth in Africa.

“Several years ago, we established Johnvents with a distinct vision: to emerge as the leading agribusiness globally for agricultural transformation and economic development. Through our innovative practices, Johnvents has evolved into a group with businesses focused on all aspects of the agricultural value chain. While Johnvents Trading supplied the paddy rice for the Imota rice meal, Johnvents Food Limited is the major off-taker and distributing partner of the finished product – Eko Rice,” Hassan said.

Speaking further, Hassan stated that it is worth noting that Johnvents Group is also a key player in Nigeria’s cocoa value chain. According to him, the group actively supports cocoa production through its farmers’ empowerment programmes and holds a prominent position in cocoa processing with its combined 45,000 metric tonnes output from the Johnvents Cocoa factory, Akure and Premium Cocoa Products, Ile-Oluji in Ondo State.