General News
USAID Partners WACOT Rice on N5b Deal to Boost Rice Production in Kebbi State
WACOT Rice Limited’s (WRL) strategy to become West Africa’s leading rice producer got a massive boost from the USAID-funded West Africa Trade and Investment Hub (WATIH).
The Nigerian based subsidiary of TGI Group recently signed a co-investment partnership with WATIH to the tune of $10.5 million (about N4.99 billion) to support the company’s Argungu Rice Outgrower Expansion Project based in Kebbi State.
In this partnership, WRL will register an additional 5,143 farmers to complement its already existing outgrower network in the state. These new farmers are expected to cultivate over 5,000 additional hectares of land thereby producing over 20,000 tons of paddy which will be utilised at WRL’s 120,000-ton rice mill in Kebbi.
While receiving the good news, Executive Governor of Kebbi State, Senator Abubakar Atiku Bagudu said that the state government was pleased that the efforts of the Federal Government in agricultural revolution was being recognised by international bodies like USAID and WATIH.
He further said: “WACOT Rice Limited is the first major rice mill commissioned under the President Muhammadu Buhari administration and the support by both globally reputable organisations is a big boost for private sector investment in the Nigerian agriculture sector”.
Governor Bagudu, who is the Vice Chairman of the National Food Security Council and also National Champion on Nigeria Rice Revolution, commended WRL for boasting the drive towards food security in Nigeria.
It is expected that this project will improve the lives and livelihoods of smallholder farmers in the region while addressing Nigeria’s food security concerns.
The average smallholder farmer in Argungu, Kebbi State cultivates about half a hectare of land and earns less than $200 (N95,000) net income annually, barely sufficient to cover the needs of a household. Although the Central Bank of Nigeria’s Anchor Borrower Program has provided significant funding to rural farmers thereby increasing yields, many other farmers still struggle to get access to any form of finance. This has hindered their ability to scale up their activities by increase the size of land they cultivate as well as yield and productivity.
Commenting on the development, Emir of Argungu, Alhaji Samaila Muhammad Mera described the partnership and the investment by WRL as a welcome development. “It is a win-win situation for our farmers, the state government and the people of the state generally”, the traditional ruler further said.
He described the WRL project as timely coming shortly after the farmers experienced devastating flooding that wiped out their farmlands.
The partnership between WRL and WATIH will complement and enhance the on-going Central Bank of Nigeria and Federal Government programmes by helping farmers access finance, high quality inputs and technical extension services leading to higher yields and quality.
The guaranteed paddy off-take agreement between WRL and the farmers, which is a key pillar of this partnership, will provide a sustainable market going forward.
On the partnership with USAID and its benefits, Strategy and Business Development Manager of TGI Group, parent company of WRL, Habiba Suleiman, says: “The overall impact is to enhance yield per hectare and help farmers better their livelihoods.
“In terms of their earnings, this project will help them to be able to send their kids to school, access better livelihoods, access better healthcare and to have better nutrition, and quality of life”.
Anne E. Patterson, USAID Mission Director, said of the partnership: “The US government is pleased to partner with the private sector in Nigeria to develop market-driven solutions and sustainably improve food security by supporting local rice production”.
She added that, “with this new co-investment partnership, smallholder farmers in Kebbi State can increase yields and improve the livelihoods of their families”.
Working in partnership with USAID its Feed the Future strategy, the Federal Government has prioritised local production of rice, a major staple in the country.
By supporting smallholder rice farmers to increase their yields by 50 to 100 per cent, the co-investment will help farmers earn more and lift themselves out of poverty, create thousands of jobs, and attract further private investments in the agriculture sector.
WACOT Rice disclosed that it would be placing a strong emphasis on women and youth, with at least 50 per cent of the new farmers trained to be women and 70 per cent of all the farmers under 30 years old.
Commending the team for the laudable feat, Rahul Savara, Group Managing Director of TGI Group, laid emphasis on the Group’s mission to always add value to its communities.
“No doubt, this project not only supports our drive to support the government in achieving food security in Nigeria, it also allows us to support our community, Kebbi, which was ravaged by flood just a few months ago. For us, sustainability is a way of life. Therefore, we will continue to explore avenues to grow sustainably, while supporting others”.
WACOT Rice Limited operates a state-of-the-art rice mill in Argungu where it produces Big Bull Rice. It is one of the largest rice mills in Africa and sources paddy from various paddy producing states across Nigeria.
WACOT Rice also engages in out-grower farming programmes with paddy farmers to boost their yields and guarantees off-take of paddy from farmers through buyback arrangements. WACOT Rice is a subsidiary of TGI Group.
Tropical General Investments (TGI) Group is a global conglomerate with a majority of its investments based in emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world class products that are consumed both locally and exported to global markets.
The Nigerians in Diaspora Commission (NiDCOM) has sought to harness the innovation and expertise of Nigerians across the globe with the launch of the Connected Diaspora x DOWA Start-Up Challenge and the Connected Diaspora Flagship Event 2025.
Speaking at a news conference in Lagos, Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, described the initiatives as timely and transformative, noting that they are strategically designed to tap into the creativity, enterprise and professional strength of Nigerians in the diaspora.
She said the Start-Up Challenge, themed “Building, Breaking and Believing in Nigeria,” aims to energise innovators abroad by promoting knowledge transfer, enterprise development and strategic investment to support Nigeria’s rapidly expanding economy.
According to a statement by NiDCOM, the challenge, which offers cash prizes of up to ₦1 million, is targeted at spotlighting exceptional ideas and supporting impactful ventures created by Nigerians living overseas.
According to Dabiri-Erewa, the initiative aligns with the Federal Government’s overarching goal of engaging the diaspora community as key partners in national progress.
She further announced that the Connected Diaspora Flagship Event will take place on December 19, 2025, in Lagos, and will bring together entrepreneurs, policymakers, investors, technology leaders and strategic partners for critical discussions on Nigeria’s future.
Kadiri Hamzat, Deputy Governor of Lagos State, will serve as the Special Guest of Honour and is expected to speak on the importance of collaboration between government and the diaspora in accelerating development.
NiDCOM also revealed that notable contributors from the global diaspora community and Nigeria’s entrepreneurship ecosystem will enrich the sessions and help shape new pathways for meaningful engagement.
Dabiri-Erewa said their support remains invaluable in driving the success of the initiative. She emphasized that their continued collaboration helps unlock the potential of Nigeria’s global talent pool and fosters sustainable economic growth.
The Commission called on stakeholders across both the public and private sectors to support the initiative, stressing that the opportunities for innovation, collaboration and nation-building are immense.
NiDCOM urged young Nigerians and diaspora returnees to participate actively in the Start-Up Challenge, reminding them that entries close on December 12, 2025.
The December event will also feature a Diaspora Talent Career and Internship Fair, aimed at connecting diaspora returnees with internship opportunities offered by DOWA partner organisations.
NiDCOM said the fair will further strengthen talent exchange and deepen the country’s development capacity.
The programme timeline includes the opening of applications for the Start-Up Challenge from November 18 to December 12, followed by public voting on Instagram from December 13 to 17.
The winner will be announced on December 18, ahead of the final presentation at the JK Randle Centre in Lagos on December 19.
NiDCOM encouraged interested participants to follow the provided registration details and take advantage of the platform created to connect, innovate and contribute to national advancement.
Indigenous printing company, PromoPrint Ventures Ltd, celebrated 25 years of operations in the country on Tuesday 2nd December, at an event held at the Lagos Motor Boat Club in Lagos.
The evening saw business executives, clients and stakeholders in the printing space gathered to attest to the dexterity and Nigerian resilience demonstrated by Mrs. Patricia Ojora, the Founder and Chief Executive of the company in sustaining the growth of PromoPrint over the last 25 years.
Amongst many things on display that evening were PromoPrints very first t-shirt printed in the year 2000. Guests also cheerfully adorned custom-made patterns done by Promoprint on our indigenous cotton fabric (Funtau).
In her opening remarks, Mrs. Patricia Ojora recalled the past 25 years of operation in Nigeria at the helm of PromoPrint. While not easy, she says:
“We’ve been able to do it and we enjoy it. There’s nothing better than creation. To create something from nothing and do it so well, it’s a passion for me. It’s something that I really, value. I’m a great supporter of Nigeria, so I believe that we should be able to do things well in Nigeria. We don’t need to always import, that’s why we’re doing this today, to be able to collaborate with people. Most of the people here are people we’ve collaborated with and have worked hard to build Nigeria back up”.
She recounts how she was able to change the narrative of many Nigerians that were printing outside of the country who are now printing with PromoPrint Ventures. “People used to print outside the country because they didn’t trust the quality that was here in Nigeria,” Patricia explains with an understanding that “we can produce good quality here within Nigeria.”
The company is a one-stop shop for all things printing with all operations happening in-house, from the expertise of crafting graphics and garment production to the t-shirts, roller banners, corporate gifts and more being rolled out on a daily basis. “What we are selling is peace of mind in a chaotic place.” Patricia says, with nearly three decades of successful operations and collaboration under her belt.
Significantly, she makes sure the company remains primed for the future, using AI and the like to remain progressive in strategy and implementation. Patricia proudly states, “Our automated printing carousel can churn out 10,000 tees a day if needed and our many corporate clients can attest to this.”
In attendance was Atedo Peterside (CON), Founder, Stanbic IBTC Bank Plc, one of many guests in the room who spoke to PromoPrints impact. “There’s something about longevity,” he shares with the crowd, “If you’ve kept the business going for 10 years, I always tell people, it means you’re doing something right. If you get it going for 20 years, you’re doing something very correct. Patricia must be doing something phenomenally right and it’s my sincere hope that she keeps it going, keep building, keep innovating.”
“Patricia can create almost everything,” Peterside remarks, “she has the courage, audacity and the commitment.”
Mrs. Ibukun Awosika, Nigerian businesswoman and the first female Chairperson of First Bank of Nigeria, contextualises the tenacity of Patricia’s efforts rather well. She reminds the room that “when you think of how many big multinationals who have so much that protects them, who have a lot of support systems internationally and locally, who gave up on Nigerian manufacturing, then you have to go back and think about those of us like Patricia.”
Even after 25 years, Nigeria remains in need of more Entrepreneurs, particularly those like Patricia, to boost the SME and manufacturing industry in the country despite the odds. “She didn’t give up,” Awosika says in admiration.
“What is key is that, when we celebrate the likes of Patricia and her company, we know without a doubt that it’s not just because they want to have a celebration. It’s because, in truth, the Nigerian entrepreneur is a star, and even more so, the Nigerian manufacturer.” Awosika concludes.
So, we celebrate Mrs. Ojora and her PPV entire team, and all that has gone into 25 years of hard work, commitment, creativity, we also recognise the passion that does not allow you to give up on the vision, the commitment to not only creating jobs for other Nigerians but creating value within Nigeria. The commitment to innovating a solution for every challenge and every situation. Indeed, it was a worthy celebration.
Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS, has unveiled a suite of artificial intelligence innovations poised to transform Nigeria’s financial services industry, aligning with recent Central Bank of Nigeria (CBN) directives on consumer protection and fraud prevention.
Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS
Basamta, speaking at a media parley in Lagos, said the company’s flagship product, Omnis, is redefining customer engagement in banking by serving as a virtual assistant embedded within mobile applications.
According to him, the platform is capable of analyzing customer behavior to recommend tailored financial products, effectively functioning as a “digital salesperson” that boosts bank revenues while enhancing customer experience.
He noted that Optimus AI LABS, which began as a modest startup targeting small businesses such as schools, has now identified greater opportunities in serving banks, fintechs, and microfinance institutions.
“The financial sector presents the biggest opportunity for AI to deliver value at scale,” Basamta said.
In response to rising fraud concerns and new CBN regulations mandating resolution of fraud cases within 14 days, Basamta highlighted the company’s AI-powered support platform designed to address customer frustrations over delayed assistance.
The system, he explained, interacts naturally with users, resolves issues promptly, and escalates unresolved cases, thereby strengthening compliance and improving customer satisfaction.
Basamta also recounted the firm’s global expansion, citing its work with Canadian clients, including the development of a dental learning environment for a major dental group.
He said this international footprint demonstrates Nigeria’s capacity to compete globally through homegrown innovation.
Reflecting on the company’s relocation into office space formerly occupied by KUDA, a fast-rising Nigerian fintech, Basamta expressed optimism that Optimus AI LABS is on a similar trajectory toward scaling into a major industry player.
He emphasized that the company’s growth would contribute not only to technological advancement but also to national development.
Basamta concluded by appreciating partners and stakeholders, stressing that “big things can emerge from small beginnings when powered by AI’s transformative capabilities.”
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