Firm To Manage Enugu State’s Ada Rice Company, Targets 5,000 Jobs

Ellah Lakes Plc, a vertically integrated Oil Palm Company based in Edo and Delta States has entered a joint venture agreement to develop Ada Rice Company and Plantation owned by the Enugu State Government.

Ellah said in a notice to the Nigerian Exchange Ltd that the agreement is with immediate effect.

Ada rice farm has the potential of close to four thousand hectares of land, including 1000 hectares of land which was used for offices.

Out of the 4,000 hectares for farming, only 1,200 hectares was developed.

The farm in 2021 gulped over N3.1bn for its revamping, including the building of a 65 kilometer road by the state government.

Ellah Lakes said, “it has entered into an agreement with the Enugu State Government, through the Enugu State Technical Committee on Privatisation and Commercialisation, for the expansion and further
development of the Ada Rice Company and plantation in Adani, Uzo-Uwani LGA, into a Staple Crop
Processing Zone (SCPZ) in Enugu State, Nigeria.”

According to the company, it will produce and process rice with the participation of over Two Hundred (200) indigenous Farmers in the local out-grower program.

Based on the agreement, Ellah Lakes will also develop a Feed Mill and Ethanol processing plant on the site in Adani.

The company revealed that the joint venture is expected to create a minimum of five thousand jobs over the next 24 months.

The Company’s Chief Executive Officer, Chuka Mordi said, “This is a significant landmark for the Company in fulfilling our strategic objective of diversifying our portfolio and production base, & we are very excited to be working with the Enugu State Government.

“We are very pleased at this collaboration with the very progressive Government of Enugu State. For us, this is the beginning of a great journey to expand the industrial base of the state, and we look forward to a mutually beneficial, valuable and fruitful venture.”