TheCable

• Becomes the first and major distributor of Eko Rice
• Procures an initial batch of 5,000 bags of Eko Rice for distribution barely a year after supplying tons of quality paddy to boost the operations of Lagos Rice Mill, Imota

Johnvents Group, an indigenous agribusiness and manufacturing group and member of CapitalSage Holdings, has once again reaffirmed its commitment to advancing Nigeria’s commodity exchange by partnering with the Lagos Rice Company (LASRICO) on the launch of the EkoRice programme on Lagos Commodities and Futures exchange.

The partnership was announced at the official inauguration of the 5 billion series of the Eko Rice Contracts Programme on the Lagos Commodities and Futures Exchange in Lagos, where Johnvents was unveiled as a leading trading and distribution partner of Eko Rice with the initial offtake of 5,000 bags for nationwide distribution.

During the official presentation of the rice contracts to Babajide Sanwoolu, the Governor of Lagos State, in the presence of Lagos State business community members and key stakeholders, John Alamu, the Group Managing Director of CapitalSage Holdings (Owners of Johnvents Group), emphasized the significant potential of Nigeria’s agricultural value chain to enhance food security and drive economic growth. 

According to him, “In the modern, interconnected global landscape, marked by complex markets, collaboration has become a vital catalyst for innovation, productivity, and competitive advantage. We acknowledge the efforts of state and federal governments’ renewed focus on commodity exchange to develop and fix the commodity ecosystem. As a leading player in the agribusiness sector, Johnvents is committed to collaborating with the government to achieve its goals. We aim to ensure that the entire value chain, encompassing production, quality trading, value addition, manufacturing and distribution, leverages our extensive experience, strength, and reach for maximum benefit.”

“Building upon our long-standing contributions to the agribusiness value chain, Johnvents Group is pleased to announce its support for the Lagos Rice Mill and Eko Rice Contract Programme by offtaking an initial 5,000 bags of Eko Rice while signing additional forward contracts through its FMCG division, Johnvents Foods Limited. Interestingly, Johnvents had previously aided the Lagos Rice Mill in commencing operations as the major supplier of quality paddy rice just a year ago, a deal that was made possible with the support and trust of the good people at Sterling Alternate Finance. We remain dedicated to fulfilling our commitments through tangible solutions, proactive measures, strategic collaborations, and investments,” Mr. Alamu said.

The Managing Director of Johnvents Foods Limited, Febisara Hassan, expressed, “Several years ago, we established Johnvents with a distinct vision: to emerge as the leading agribusiness globally for agricultural transformation and economic development. Through our innovative practices, Johnvents has evolved into a group with businesses focused on all aspects of the agricultural value chain. While Johnvents Trading supplied the paddy rice for the Imota rice meal, Johnvents Food Limited is the major off-taker and distributing partner of the finished product – Eko Rice. We are making remarkable progress regarding food security and remain dedicated to enriching the agricultural value chain and boosting economic growth in Africa.”

It is worth noting that Johnvents Group is also a key player in Nigeria’s cocoa value chain. The group actively supports cocoa production through its farmers’ empowerment programmes and holds a prominent position in cocoa processing with its combined 45,000 metric tonnes output from the Johnvents  Cocoa Factory, Akure and Premium Cocoa Products, Ile-Oluji in Ondo State.