In order to make the best use of the available huge market of rice as well as government’s effort and drive towards food sufficiency in the country, Youth in Commercial Agriculture has embarked on an aggressive rice production project tagged: YCAD-EKITI Rice Project’.
This project is aimed at contributing immensely to government’s food sufficiency drive
With a combined team experience of over 20 years in agribusiness, Training with Africarice Centre, International Institute of Tropical Agriculture (IITA) and continued support from The Ekiti State Government on the dry season rice farming and the Rice Project of ADP led by its Director, Mr Omole, YCAD is positioned for optimal profitability and sustainability.
Rice, a staple which is highly consumed in Nigeria has a per capita consumption rate of 32kg. The country consumes over 7 million tonnes daily. Sadly enough, over half of this is imported basically because rice production have been left to subsistence farmers.
Available data revealed that the naira value of Nigeria’s daily rice consumption stands at 2billion, most of which we use in enriching foreign economies while our youths languish here as a result of lack of adequate job opportunities. Nigeria has over 40million hectares of redundant fertile land. Analysis revealed that 1 million hectares out of the available land could be cultivated using over 700 billion naira wasted annually on rice import. This will go a long way in creating millions of jobs as well as generate huge resources to government coffers.
Rice production obviously is a huge money spinal and investment. This is a great opportunity we are presenting to interested investors. Hence, YCAD has structured to give 40% returns (principal + interest) in six months or 40% returns every six months for 7 years (560%); this includes insurance that secures your capital. Presently, YCAD has its Farm land all over the 16 LG that can plant either low or upland rice.
The recent border closure across the country has opened a huge window of unprecedented opportunity. Also, the Governor Kayode Fayemi led government in Ekiti State is doing so much to empower and enhance young agriprenuers’ capacities. Just recently, his government sponsored YCAD farmers to a Rice Training at AFRICARICE CENTRE, IITA.
Let us all take the this rare opportunity. The time is now! The stage is set and this opportunity shouldn’t pass anyone by. Let’s be part of this rice-independence/revolution. It will turn out to be not only a national pride, but also a guarantee of steady and decent money spinal for those who are involved.
following is the breakdown of the cost to be incurred in the production of the seed for 1 hectare.
1. Land preparation
Clearing and Stumping —– 36,000
First Ploughing —– 18,000
Second Ploughing —– 18,000
Harrowing —– 15,000
Purchase o 25kg of rice seed —– 31,500
Acquisition of seed planter —–35,000
Planting of seed —– 15,000
TOTAL —- 81500
3. Weed management
• Glyphosate 3 litres —6,000
• Pre-emergence 4 litres —–8,000
• Selective herbicide4 litres —– 8,000
• Acquisition of motorized sprayer – 45,000
• Application of the herbicides —– 22,000
• Hand weeding —– 20,000
TOTAL —– 109000
4. Fertilizer Application
NPK150kg —– 30,000
Urea 50kg —– 20,000
TOTAL —– 55,000
- Bird scaring —– 20,000
- Harvesting, threshing and winnowing
Reaping —– 55,000
Threshing —– 25,000
Winnowing and bagging —– 10,000
Purchase of 100kg bags (50 pieces) —– 6,000
TOTAL —– 96000
7. Transportation and storage —– 15,000
8. General management and other expenses.
Supervision for 3 month —-45,000
TOTAL EXPENSES 473,000
The expected yield from this farm is about 3 tons of rice seed and 1 ton of paddy rice. With about #300 per kg of seed and #80 per kg of paddy rice, the expected revenue are:
Rice seed – #300 x 2.5tons(2500kg) #750,000
Paddy rice – #70 x 1 ton (1000kg) #70,000
TOTAL REVENUE #820,000
TOTAL PROFIT #346, 800
I Mr Sanya Fabiyi