The Federal Government has signed a $10.7 billion agreement with MV Agro Engineers Limited to install large rice mills in ten states.
Minister of Agriculture and Rural Development, Chief Audu Ogbeh and his counterpart for State, Heineken Lokpobiri signed the MoU with officials of the Indian company yesterday in Abuja.
The ten states listed to benefit from the gesture are, Anambra, Benue, Bayelsa, Bauchi, Kebbi, Kaduna, Kogi, Niger, Ogun and Zamfara.
The rice mills will be given to these states on loan payable in ten years.
It would be recalled that the Federal Executive Council had in April this year, approved N10.7 billion for the establishment of ten rice mills in ten states. Read more