Finance Minister highlights flood mitigation efforts, economic resilience in Kebbi

Visits WACOT Rice Mill

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has promised the Federal Government’s proactive measures to address the current flooding challenges on farms, including the allocation of N3b to each of the 36 states and the Federal Capital Territory by the National Economic Council (NEC).

Edun who revealed this during his recent courtesy visit to WACOT Rice Limited’s cutting-edge 250,000 metric tonnes rice processing facility in Argungu, Kebbi State, reaffirms President Bola Ahmed Tinubu’s commitment to bolstering local economies and tackling the challenges posed by natural disasters.

During the visit, Edun, accompanied by the Governor of Kebbi State, Dr Nasir Idris and the Minister of Budget and Economic Planning, Senator Atiku Bagudu, toured the state-of-the-art facility to inspect the rice production processes, in readiness for the wet season harvest expectations.

He also lauded WACOT Rice for its significant contributions to the national economy. The facility supports thousands of farmers through an extensive procurement network and an 8,000-strong out-grower farming programme, positioning it as a key player in the Nigeria’s economic landscape.

The Chairman of WACOT Rice and Vice Chairman of TGI Group, Mr Farouk Gumel, who commented on the Minister’s visit, said: “We are humbled to have received the Ministers, the Governor, and their teams at our facility. It is also timely because it’s been almost a year since we started operating the second phase of our rice mills, bringing our capacity from 120,000MT to 250,000MT.

“This visit reaffirms the government’s recognition of the critical role the agricultural value chain plays in driving Nigeria’s economic development.”

The Minister’s tour also included visiting of a nearby rice farm severely impacted by ongoing floods, emphasising the urgent need for robust disaster management strategies.

Speaking on the N3b planned allocation to each of the 36 states and the FCT, he said: “This funding is essential to combating and mitigating the effects of flooding, particularly as we prepare for the 2024 rainy season harvest. Our focus is on supporting our farmers and safeguarding the agricultural sector, which is the backbone of our economy.”

Also, Gumel expressed his gratitude for the government’s intervention, stating, “The Federal Government’s support is crucial for people in states like Kebbi, where agriculture is a lifeline for many. At TGI Group, we are committed to partnering with all stakeholders to strengthen agricultural production. With sustained investment and a clear focus on food security, Nigeria is well-positioned to not only become self-sufficient in food, but also able to feed others.”

Edun also commended the resilience of the Kebbi State communities under Governor Idris’ leadership, reaffirming President Tinubu’s dedication to enhancing security and increasing the region’s productive capacity.

He called on the private sector to continue investing in agriculture, bolstering efforts towards Nigeria’s journey to food security.