The initiative was aimed at the cultivation of quality rice paddy by RIFAN, while Tiamin processes and packages for sale locally and internationally, particularly to Egypt.
A Nigerian rice-producing company, Tiamin has said the country will begin rice exportation to Egypt and other foreign nations soon.
A statement issued by the Deputy Managing Director of Tiamin Rice Company, Mr Aliyu Ibrahim, in Abuja said the Rice Farmers Association of Nigeria have signed a memorandum of understanding for the processing and sale of rice domestically and abroad.
Aliyu said the initiative was aimed at the cultivation of quality rice paddy by RIFAN, while Tiamin processes and packages for sale locally and internationally, particularly to Egypt.
He claimed that the MoU, which would be in effect for two years, was signed at the company's mill in Bauchi State, which has a 600 metric tonnes per hour capacity.
“RIFAN and Tiamin share a common agenda in the area of rice farming and milling.
“This is to ensure a sustainable supply chain management of rice under a partnership that seeks to produce, mill and package processed rice of the highest quality for export and local trading.
“With a combined capacity of 920 tonnes per hour from its two mills in Kano and Bauchi states, Tiamin Rice is one of the largest producers of rice in Nigeria,” he said.
“With a combined capacity of 920 tonnes per hour from its two mills in Kano and Bauchi states, Tiamin Rice is one of the largest producers of rice in Nigeria,” he said
According to Aliyu, the company also has a 10,000-hectare rice farm in Udubo, Bauchi State.
He added that the company had “benefited from six different development finance interventions of the Central Bank of Nigeria,” the News Agency of Nigeria reports.
He said the intervention was to the tune of over N20 billion, adding that the company had successfully repaid four of the intervention funds.
Aliyu said Tiamin Rice Company was the first corporate entity to access the Private Sector-Lead Accelerated Agricultural Development Scheme funds from CBN.