NewStats: 3,263,571 , 8,180,576 topics. Date: Friday, 06 June 2025 at 02:44 PM 2y1j20

Nigeria’s largest farmland of 10,000 hectares in Nasarawa owned by Olam and worth about $140 million investment has been submerged by floods. Entire 4,400 hectare of rice is under water currently.

Olam tried to battle the water for two weeks but but the water pressure just took over and broke the 57 km dykes surrounding the farm. Waste. More food inflation.

https://twitter.com/dondekojo/status/1578412407306625024?t=nxLdC6P9Zf6gEcDS39EnSg&s=08

Flood: Price of rice to increase due to crops lost, says Olam

Olam Nigeria Limited, an agri-business company, says the price of rice will go up by December as massive flooding from River Benue damaged the company’s crops and infrastructure.

Speaking on a programme on Arise TV, Ade Adefeko, vice-president, Olam Nigeria Limited, said the incident affected the company’s $20 million investment and about 25 percent of Nigeria’s rice needs.

Adefeko described the situation as “very terrible”, adding that climate change is real despite all efforts put in place to prevent the damage.

“The entire team from the farm worked very hard to prevent the colossal damage that arose there from the dam broke the likes of the dam the dikes of the farm, and that affected us to a large extent we supply about 25 percent of Nigeria’s rice needs and that has been affected and have lost over $20 million,” he said.

“Of course, we are insured, But you can insure crops, you cannot replace crops. So, the crop has been insure, but you cannot be replaced. So you have to grow again. So we are talking about 4400 hectares of farmland gone submerged due to climate change. So it’s very serious.

“Well, like I spoke to the fact that climate change is real. There’s not much you can do about the fact that climate change is real. We’ll continue to do what we have to do. I think NiMET had warned about the impending floods, I am sure you will notice what happened in Kogi as well.

“When they say it rains. It’s not really raining, it’s pouring. So it’s terrible.”

According to Adefeko, Olam farm, located in Rukubi Doma LGA of Nasarawa state, was flooded after River Benue burst its banks and broke the dyke.

“For example, we have been battling this water for the last two to three weeks. But finally, the water pressure from the dam took over and broke the dykes and multiple spots, which we couldn’t control. It was the burst from the seams of River Benue and River Niger. Two major rivers in Nigeria are very close to Benue,” he added.

“Doma, where we are, is where we have the largest facility. We have the largest rice farm and mill on the continent. It is a $140 million investment, the national $20 million investment, which brought everything to $160 million.

"On our journey to the communities where we operate, it’s terrible. I mean, you need to come and see what is happening. We have over 57 kilometres of dikes surrounding the farms. The farm was built 12 kilometres by 7 kilometres and 57 kilometres of dikes were meant to stop the flow from entering but this was made after the 2012 major crisis. Based on that, we put a lot of things in place, but you know what? Climate change is real.”

Adefeko, however, said with such loss and damage, the price of rice will increase as the company will be forced to double production.

“Well, what happened on October 2, I will tell you that 25 percent of the crop for rice has been taken out. We should expect an increase in rice prices in December. Of course, that goes without saying, because the entire crop has been lost. We produce 25 percent of that crop to a large extent. Nigeria consumed 7 million tonnes of rice, and we produce 5 million tonnes, and we imported about 2 million tonnes,” he added.

“So right now, the quantum of rice that we’ll have to meet the shortfall will increase. So maybe two or 3 million tonnes or thereabout or 4 million tonnes. So that’s massive.”

https://www.thecable.ng/flood-price-of-rice-to-increase-due-to-crops-lost-says-olam/amp

Too bad, this is big loss

Buhari is currently in celebration mood

After securing the release of terrorists captives as one of is highest achievement

This is not a good news at all.
This is a huge loss to the investors , Nigeria and a sign of looming famine and high cost of food .
Prudent leaders and leadership is what we need in our nation to prudently manage scarce resources and cushion such loss.
Vote wisely . Don't sell your future for rice , beans or recharge card.

May God help Nigeria. The level of hunger in the land already is not what more should be added. This will only add more hardship.

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This flood is already getting out of hand.

God help us.

Nice

Damn!

That's a huge loss.

This is sad

May nature never work against our success.

Nasarawa Flood: Footage of 10,000 hectares of Rice farm and Mill Destroyed

Watch Video

https://www.youtube.com/watch?v=ikRpgqGGvcc

Omo the breakfast long oh.....


And foreign rice don jump go 40k + already so local wey suppose rescue Flood don go chop dat one too...

he be like say the wahala wey dey diz 2022 wan the Covid year oh....

All man don collect under this Buhari regime to the extent Dangote run out of funds to begin operations in his refinery by next year as initially envisaged


Flood dey everywhere now... A mini flood even carry my guy newly bought Gucci slippers yesterday around Ikpoba slope, Benin City. He barb hair finish want cross enter bus, as rain don fall, he put leg na so flood chop his slippers carry am dey run enter one deep gutter come dey speed dey go Ikpoba river.

When Buhari dey leave office sef

Hard luck to Olam farm, it will take lengthy days, sizable chunk of man power and enough funds to recover that which have been lost to the ugly side of nature.

Hard times are here, just watch as the price of rice soar higher again.

BTW, the price of rice has been considerably cheaper up north compare to what's obtain down south, the difference is killing and couple with this, the ripple effect would be outrageous.

Good .

APC is working...

Righteousness nigga will say :"Jesus is coming next week"

Buhari effect.

Flood is a natural occurrence, OLAM happens to be one of the biggest agriculture company in Nigeria yet still affected . We can only try our best to make the losses minimal.

This is crazy

But if planned properly they shouldn’t lose their crops as rice actually prefers flood plains

$140 million
Something they should have invested in Crypto or Forex

Nawoo

Neighbouring countries keep opening their dams to the detriment of nigeria...but the goverment dont care...
People that have not leave nigeria for the first time,dont know how bad this country is...

Extremely bad..God save Nigeria

Imported rice loading , at least there is supposed to be storage facilities for already harvested rice

This is terrible news with extremely bad timing so close to the end of the year when people normally buy rice in large quantity

Flood is happening every where, currently watching a video of flood swallowing vehicles in Anambra state.. onitsha).

What a colossal loss. The only farm that has been able to survive Fulani herdsmen scourge

I fail to see the problem here, rice thrives in swampy terrain.