Business

Rite Foods Ltd Investing in Sugar Mills in Niger

Published

2 years ago

September 23, 2024

OCHEFA

429 Views

Rite Foods Ltd, Uttham Sucrotech International, Legacy Sugar Company Ltd and Niger Foods are investing in sugar mills in Niger State.

The three companies have signed the Memorandum of Understanding (MoU) with the Niger State Governor, Mohammed Umar Bago, for the establishment of six sugar mills to produce 1.6 million tonnes of sugar and 1.45 million tonnes of ethanol a year.

In a statement, the Special Adviser to the Governor on Digital Media and Strategy, Abdullberqy Usman Ebbo, disclosed that of the six sugar mills, four will be sited in the Shiroro and Minna areas of the state.

“The agreement was signed between Uttham Sucrotech International, Rite Foods Ltd, Legacy Sugar Company Ltd and Niger Foods for a three-year, 148,000-hectare project that will see to the establishment of six sugar mills in Niger State, with four to be located between Shiroro and Minna,” he said.

Ebbo explained that each of the six sugar factories is estimated to have a capacity of 5000 to 15000 (TCD) tonnes of sugarcane crushed per day to produce sugar, ethanol and power (clean energy).

He stated that the sugar mills are expected to produce 1.6 million tonnes of sugar and 1.45 million tonnes of ethanol a year and, in turn, boost domestic food production and exports.

He explained that the agreement will further serve as an avenue for providing an enabling environment for investments, in addition to improving food security and the quality of life of the people while also aligning with the state government’s Green Economy Initiative.

Ebbo further stated that Uttham Sucrotech Company will bring multiple benefits to the state through sugarcane production, which includes 110,000 out-growers, refined ethanol, power generation, and cattle feeds, as well as empowering local farmers towards self-sufficiency.

The sugar mills are expected to produce 1.6 million tonnes of sugar and 1.45 million tonnes of ethanol a year and, in turn, boost domestic food production and exports.

He also said benefiting farmers will earn between N5 million and N6 million yearly from the 145 million-litre ethanol off-take programme and assist in promoting community growth, reducing dollar pressure, and supporting local agriculture.

” The out-grower and off-taker component of the agreement will encourage community participation in the programme.

Related Topics:Featured Rite Foods Sugar industry

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Business

Naira Exchange Rates Friday, 3 July 2026

Published

24 hours ago

July 3, 2026

OCHEFA

24 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,370.15

GREAT BRITISH POUND (GBP) ₦1,832.17

EURO (EUR) ₦1,568.28

SWISS FRANC (CHF) ₦1,1705.44

JAPANESE YEN (JPN) ₦8. 51

CHINESE YUAN (CNY) ₦201. 80

WEST AFRICAN CFA (XOF) ₦2.38

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98

SAUDI RIYAL (SAR) ₦364.91

SOUTH AFRICAN RAND (ZAR) ₦84. 32

Business

Issue: Cloning Nigerian Investment Promotion Commission (NIPC)

Published

2 days ago

July 2, 2026

OCHEFA

48 Views

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.

The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.

The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.

The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.

The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.

Current status

The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.

As the case is pending before the court, the allegations remain subject to judicial determination.