Our Background
Agricon West Africa Limited (“Agricon”); is an agribusiness incorporated in 2015. In 2017, it commenced a rice farming and processing business in Ini Local Government of Akwa State, and currently produce parboiled rice, under the brand name “Family Rice”.
Agricon’s operations currently consist of a 1500hectares rice farm and a 5Tons/hour rice milling plant, located in Ini Local Government of AkwaIbom State; Akwa-Ibom State government has also pledge to provide 10,000 Hectares of land to the company for rice out-growers scheme, to support availability of paddy to the mill.
Company commenced operations in May 2017 with their rice farm and mill in Akwa-Ibom State. First harvest of paddy was done in September, October 2017 and production of the first milled rice was in October 2018. However, rice milling has since been ramped-up with consistent production of parboiled rice and average annual revenue of N200Million between 2018 and 2020.
In December 2020, company expanded its rice milling capacity from an initial 80Tons/day operations. However, again in March, 2022, Agricon West Africa Limited completed installation of additional 240Tons/Day integrated rice milling at Logbara-Igbodo Village, Obafemi-Owode LGA, Ogun State. The plant has since commenced operations, effectively producing and selling premium quality rice to meet the geometrically growing demand by its existing and prospective customers, especially in Lagos and the Southwest region.
