See How Dangote Plans To Crash Price Of Rice

 

Africa’s richest man, Aliko Dangote plans to launch a rice mill backed with a farm scheme to tap growing demand for Nigeria’s commonest staple food as the Price of 50kg of rice soared by over 120% from N9,500 to about N20,000 over the past six months

Only 2.3 million metric tonnes are produced at home, leaving the country reliant on imports, with yearly growing demand of more than 7 million metric tonnes.
The company said in a statement, which reads;

“By year-end 2017, Dangote Rice plans to

Dangote shuts tomato paste plant over dollar scarcity

Africa’s richest man, Aliko Dangote, has shut his new tomato paste plant in Kano due to a shortage of dollars needed to import raw materials, a senior executive has said.

This is the second of such closures in months, in a blow to the Federal Government’s drive to diversify the economy.

President Muhammadu Buhari frequently speaks of ending Nigeria’s dependency on oil exports by boosting food production, repeating his mantra: “We must produce what we eat.”

Just In: Nigeria Aliko Dangote Now Ranks 63 Richest In The World

This is in accordance to the latest billionaire ranking released by Bloomberg Billionaires, Africa’s richest man Aliko Dangote now ranks 63 richest in the world with a networth of $34.9m.