By Modupe Gbadeyanka
The Imota Rice Mill in Lagos State would be run by one of the leading rice-producing companies in Nigeria, WACOT Rice Limited, a subsidiary of TGI Group. This conglomerate recently acquired Union Bank of Nigeria Plc through Titan Trust Bank Limited.
This followed the agreement signed between the company and the Lagos State government, which built the rice factory.
The state government said it chose WACOT to operate the facility based on its competence and efficiency.
Imota Rice Mill has a capacity of 32 metric tonnes. The factory is expected to commence commercial operations in the coming months after the handover to WACOT.
The Group Managing Director of TGI Group, Mr Rahul Savara, thank the Governor of Lagos State, Mr Babajide Sanwo-Olu, for the confidence reposed on the company to run the facility efficiently.
“We have been working very closely and will continue to work with Lagos State to make the facility run at its best. We will be deploying the best expertise, technique and training to make the Government proud of this investment,” Mr Savara assured.
“We are happy to partner with Lagos State as our economic core even though our factory is located in Argungu, Kebbi State, a large number of our rice is demanded in Lagos.
“Since setting up the WACOT Rice Mill in 2017, we have doubled our production capacity, and for the Lagos Government to partner with us, it’s a testament to our capability,” the Head of Corporate Communications at TGI Group, Ms Rafiat Gawat, said.
Speaking on the deal, Governor 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 utilisation of the technical services of WACOT Rice Limited, a subsidiary of the Group, to provide commissioning and kick-off operationalization support services,” he added.
