|Vietnam to assist Nigeria in rice production|
|Emerging Markets Business News|
|Monday, 07 December 2009 10:30|
Nigeria with vast arable land currently imports 70 per cent of its rice consumption.
"Necessary equipment are on the ground for large scale commercial production and processing of rice.
"There are no financial obligations on the part of the government on the project.
"Our commitments are limited to the Memorandum Of Understanding (MOU) which we signed with the company in August 2009 and the provision of land and security,’’ Ekanem said.
He added that Agritech would start off with seed multiplication in Uruan, Oruk, Anam and Ibiono Ibom local government areas on about 10,000 hectares of land.
Dr Sample Ibemerum, Group Operations Director of the Agritech Nigeria, described Vietnam as the “second largest rice producing country in the world’’.
The Akwa Ibom project, he said, would create 4,000 jobs.