date:Apr 23, 2012
Nigeria is planning to set up 100 rice mills and 18 cassava flour processing plants with an investment of NGN189.6bn ($1.2bn), to increase production and improve value chains in the country.
Private equity investors in China, specifically the China Development Fund, plans to bear 50% of the cost of the project, while the Nigerian government will invest NGN853.2m ($514m), which will be raised through sovereign loans.
The construction of mills and processing plants are a part of the government's