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Cross River Rice Seedling Factory to Generate N14bn Annually

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  • Cross River Rice Seedling Factory to Generate N14bn Annually

The Hybrid Rice Seedling Factory built by the Cross River State Government at the cost of N3bn is estimated to generate at least N14bn annually.

The factory, which was unveiled in May by President Muhammadu Buhari, is sited in Calabar, the capital of Cross River State.

Conducting journalists round the facility on Thursday, the state Commissioner of Agriculture, Prof. Anthony Eneji, said the product from factory is expected to meet the hybrid seed demands of farmers in the entire south-south and south-east regions.

Eneji said the factory was built at a cost of over N3bn in terms of planning, design, construction and equipping.

He said an estimated N1.2bn would be generated monthly from about 1, 000 hectares of land, which conservatively is put at about N14bn annually.

Eneji said, “If we get eight tonnes per hectare from each of 1, 000 hectares, each harvest within three weeks or a month will yield a return of N1.2bn.

“If one tone of hybrid rice is sold at N150, 000, then you can use your calculator and do the arithmetic you will know we are talking in billion of naira.”

He said the factory would be self sustaining in the long run, adding that the state government had created a special purpose company under the ministry of agriculture to manage the factory.

“This is a totally self-sustaining project if we manage it the way we are going. It can pay back whatever we are putting into this investment in three to four years. For management reasons the state has created a special SUV called Cross River Rice Company and charged it with management responsibility. It is under the Ministry of Agriculture. It is a state project,” he added.

He said that at the moment, the facility can handle between 200 and 300 hectares, adding that the output would be raised as demands increase.

“For now, we can handle up to 200 or 300 hectares in this facility. The seedlings are raised on demand basis. You know they have to be taken off within three weeks. Our local rice are grown in about two tonnes per hectare at best, but with the hybrid seeds, we aim at a minimum of between eight and nine tonnes per hectare.

“Hybrid seeds here mean that it is a seed gotten from two pairs. One could be high yielding and the other disease resistant.“Note as well that the gestation period for rice seedlings is about two to three weeks while the time for planting a rice crop to maturity is about six months. So while other states’ rice planters will harvest rice crops two times a year the Cross River seedling factory will be harvesting and selling at least 54 times a year,” he said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

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Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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