The global economy melted down as a result of the coronavirus pandemic named Covid-19.
The prices of foreign goods skyrocketed as importation reduced drastically as a result of the worldwide lockdown. This phenomenon has clearly demonstrated and reiterated the need for the country to look inward for self-sufficiency in the production of many items locally for our domestic consumption as well as for exportation for foreign exchange earning to shore up the economy.
The Federal Governments intervention to domesticate the nation’s economy with more focus on agro-economy with the dedication of funds by Central Bank of Nigeria for credit facilities to breathe life into agro- allied micro, small and medium sized industries is very laudable. This will boost and speed up the economic development process in the post Covid-19 era and lessen our dependence on crude oil as the only foreign exchange earner.
The realization of the potential of local rice production for domestic consumption and for exporting the acquisition of foreign currency for the country should make increased production of the crop a prominent priority in the ‘Green Alternative’ policy of the Federal Government of Nigeria. To this end, commercial farmers should be encouraged to produce rice in well planned agro-industrial establishment.
Apart from the huge domesticated and social economic benefits that the country stands to gain from the project, it will generate multiples of direct and indirect employments of skilled and unskilled professionals for hundreds of our unemployed youths.
FAMKHY GLOBAL CONCEPT NIGERIA LIMITED is an indigenous company registered under the Company Allain Acts 1990 with Corporate Affairs Commission with its corporate Address Situated at 10 Kayes Street Wuse Zone 1, Abuja and RC No 900529 capable of handling conceivable Agricultural projects. Famkhy Global Concept Nigeria Limited is a pioneering concept of packaging essential food items into a multi brand package in a generic market where rice was predominantly just sold as “rice”. Rice Brands are identified as leading consumer brands in the country.
Famkhy has established world-class rice mills at strategic locations, to promote milling and bagging locally. This provides the necessary motivation for increased local production of paddy to build sufficiency in rice. We also plan in the future to engage in corporate farming such as Sesame and other products using most recent technologies.
Our outreach and support to rice farmers is aimed for better yield and sustained livelihood in Nigeria. It works through PPP with Government’s Agriculture Objectives to train small scale farmers with the best techniques in Field Planting, Seed Management, Harvesting, Drying, Threshing and Marketing.
As a company we want to push forward the agenda of opportunity, sufficiency & security in the country.Our nation needs an agricultural system that produces about 50 percent more food to feed the teeming populace in our country and exports to the outside world.
The need for our participation as Prime Anchor arose from our desire to invest in agriculture in diversed ways in order to meet the challenges of the time, which include income generations, employment, alleviating poverty and hunger as well as providing sustainable food security.
Rice is the seed of the grass species Oryza Glaberrima (African rice) or Oryza sativa (Asian rice). As a cereal grain, it is the most widely consumed staple food for a large part of the world's human population, especially in Africa and Asia.
Rice Farming like other kinds of agricultural business is capital intensive. It produces one of the highest yields when compared to other agricultural products. For example, a well-cultivated one hectare of land produces 2-3 tonnes of rice. The farming process takes about four months between planting and harvesting. You need a large expanse of land, equipment, packaging materials, storage space, labour, transportation, etc. to start your rice farm. Although rice farming has its challenges besides being capital intensive and demanding a large workforce, it’s still a very lucrative business to venture into by an aspiring entrepreneur.
Rice farming business is a profitable business if management is good. It is the most consumed staple food in the world, especially in Asia and Africa.
In Nigeria, about 7 million tonnes of rice is consumed in a year. It’s popular in homes, events, and cafeterias. Despite our high consumption rate, only a few percentage of the rice we consume is produced in Nigeria.
However, there has been an upturn in growth and processing of rice locally since the closure of land borders for food security purposes by the Nigerian Government. Also, the World Bank, Central Bank, and other governmental bodies are beginning to boost the agricultural industry by providing support to smallholder rice farmers in varying degrees. As a result, the agribusiness climate is changing and rice farming is becoming more and more profitable
Nigeria which is the largest producer of rice in West Africa and the third in Africa, producing 3 million metric tons on the average annually. This falls short of meeting its local demand which is about 5 million tons. This makes us the highest consumer of rice in the West African sub region and the second largest importer in the world. Nigeria buys 2 million tons of rice annually. Importation of the product use to come from India, China, Thailand etc.
Rice can be grown anywhere in many places in wet season or dry season through irrigation in all the geographical zones of Nigeria depending on the variety.
Rice prefers a swampy land with high water holding capacity. Choice of land really matters in the rice production in Nigeria. The amount of money set aside for rice importation, if redirected into the improvement of rice production such as supporting both small scale and large scale rice cultivation and milling of rice grown in Nigeria to meet international standards like its rivals from other countries would enable Nigeria meet its rice demand and exportation to other countries.