The Managing Director (MD) of Elephant Group of Companies , Mr Tunji Owoeye, on Wednesday said the company would soon flood the market with its local rice known as the Elephant Pride.
Owoeye said this in a statement after his company took possession of the Elele Alimini Rice Processing Mill in Rivers.
The statement was signed by the group’s Media Consultant, Mr Babatunde Ajibola.
The News Agency of Nigeria reports that the Niger Delta Development Commission (NDDC) concessioned the rice mill in Rivers to the group on Dec.1.
The statement quoted the managing director as saying at the occasion that the mill had the capacity to process 210 metric tonnes of paddy rice per day.
“Elephant group is ready to make effective use of the mill and it will be producing our own brand of local rice, Elephant pride.
“We will get our supply of paddy rice for the mill from the surrounding communities.
“This will encourage the local communities to grow more rice through the out-growers scheme, thereby, expanding the agricultural value chain.
“There will be direct and indirect job creation and it will also increase the Gross Domestic Product (GDP) of the country,’’ he said.
Owoeye also said that the development would make positive impact on the Nigerian economy.
He added that it would also guarantee food security and support the Federal Government’s efforts to ensure agricultural sustenance and food sufficiency.
The Elephant group is a multinational group in the business of imports, exports, production, processing, marketing and distribution of agro-commodities throughout the 36 states and the Federal Capital Territory.
The group is popularly known for its cement known as the Elephant Cement; other products include Elephant Fertiliser and Elephant Gold Rice.