The report is titled ‘Rice Industry Review’ and was launched at the KPMG Tower located in Victoria Island, Lagos.

Findings from the report indicate that the demand for rice in Nigeria is expected to grow in line with strong demand drivers such as increasing population & urbanization, changing consumer preferences and humanitarian feeding. Also, with rapid population growth expected to exceed 200 million by end of this year, it is expected that the demand for rice will be sustained and increased in the foreseeable future.

Goodluck Obi, Partner and Head, Consumer & Industrial Markets (CIM), KPMG in Nigeria, said: “The world is changing, and so is Nigeria; we cannot speak of the economy without mentioning the Agribusiness.” He continued, ”the current administration has identified agriculture as a key sector and growth driver for the economy. In line with the diversification drive of the current administration as well as in fulfilment of one of its cardinal pillars of food security, a lot of policies have been put in place to encourage agribusiness in the country. This is therefore another opportunity for us at KPMG, to add value to our clients and businesses by assisting them make informed strategic decisions in this sector.”

The robust report turns the Nigerian Rice Industry inside-out as it highlights the big players in the industry, the extent of their involvement, investment opportunities, how Nigeria fares globally and the future of the Rice business.

Mohammed Adama, Partner and Sector Lead, Agribusiness, KPMG in Nigeria, stated:

“There are many facets to agriculture, which is why the KPMG Agribusiness report comes with an annual sectoral focus. However, this report is not just an in-depth review of the rice industry, it is also, a storyboard of how far we have come in our ability as a country to merge business and Agriculture on a mega scale from the rice perspective.

About KPMG Nigeria

KPMG Nigeria is a professional services firm with deep expertise in the provision of Audit, Tax and Advisory services to clients in various industries and sectors of the economy including the public sector. KPMG is well represented in Nigeria and across the African continent. Our objectives are to provide quality services to multinational, regional and local clients and to enhance the product offering in certain previously under-serviced markets.

For more information, please contact:

David Okwara
Corporate Communications Lead

KPMG in Nigeria

david.okwara@ng.kpmg.com

Goodluck Obi
Partner and Head, Consumer & Industrial Markets

KPMG in Nigeria

goodluck.obi@ng.kpmg.com