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WACOT Rice Completes Transformational Argungu Outgrower Expansion Programme

Monday February 19, 2024

WACOT Rice Limited, a member of the Tropical General Investments (TGI) Group, has successfully concluded the Argungu Outgrower Expansion Programme (AOEP), a collaborative initiative with the USAID-funded West Africa Trade and Investment Hub aimed at enhancing rice production in Nigeria. The outgrower expansion programme, initiated in 2020, was designed to leverage the company’s existing outgrower […]

WACOT Rice Limited, a member of the Tropical General Investments (TGI) Group, has successfully concluded the Argungu Outgrower Expansion Programme (AOEP), a collaborative initiative with the USAID-funded West Africa Trade and Investment Hub aimed at enhancing rice production in Nigeria.

The outgrower expansion programme, initiated in 2020, was designed to leverage the company’s existing outgrower programme to improve the livelihoods of smallholder farmers by providing access to essential agricultural inputs, financing, and training on Yield Enhancement Techniques (YET), and Good Agronomic Practices (GAP).

Aside from the provision of support to over 5,000 farmers, notable achievements of the programme include job creation, increased inclusion of youth and women, improved food security, enhanced agricultural yield, sustainable land management, and expanded access to financing, all contributing to the sustainable growth of rice production in Nigeria.

The Program’s closing ceremony, held on Tuesday, February 13, at Fraser Suites, Abuja, featured speeches from dignitaries, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, Kebbi State Governor, Dr Nasir Idris, and the Emir of Argungu, His Royal Highness Alhaji Samaila Muhammad Mera.

The speakers commended the transformative impact of the outgrower programme on the local agricultural landscape.

Having overseen the launch of the Outgrower Expansion Programme during his tenure as Kebbi Governor, Senator Bagudu emphasized the positive outcomes achieved through the collaboration between TGI Group and the West Africa Trade and Investment Hub, underscoring the potential of public-private partnerships in driving sustainable development.

He said, “this programme is laudable as it showcases the potential of Kebbi state. We have a history of rice farming but live in an ever-changing environment where you have to respond to issues relating to climate change and environmental challenges with sustainable, inclusive models that can work. This project by WACOT and USAID in Kebbi State has created a successful model that connects effort and opportunity.”

The Kebbi State Governor, Dr Nasir Idris, represented by his Chief of Staff, Alhaji Attahiru Maccido, echoed similar sentiments, highlighting the significant contribution of the outgrower programme to the development of Kebbi State.

He said, “The presence of WACOT and USAID in Kebbi has helped answer various questions and address certain challenges regarding agriculture, and today, we can see over 80% success rate of the initiative. The partnership ending today is one that the state is missing already, and work is ongoing to replicate it in other parts of the state. This emphasizes the partnership between the private and the public sectors in nation-building. Kebbi state is always ready to provide an enabling environment for companies like WACOT Rice, and you would always find a decent Return on Investment.”

Farouk Gumel, Chairman of WACOT Rice and Executive Vice Chairman (Africa) of TGI Group, expressed gratitude to the Minister, Governor, Emir, farmers, and all stakeholders for their support. He reaffirmed TGI’s unwavering commitment to promoting food security and economic growth in Nigeria through substantial investments across various sectors.

“I will start by appreciating our partners on this successful project. This Program started at a challenging time in Nigeria, in 2020, when COVID-19 was manifesting its impact. Despite the odds, this $10 million initiative was aimed at transforming the lives of 5,000 people over four years, and today we can see the impacts it has made.

“I want to assure our partners from the United States that we will continue to push this initiative and ensure that the successes recorded are spread around all other value chains. Together, let’s keep driving positive change and prosperity for all.”

Speaking on the Program’s impact on the Argungu people and community, the Emir highlighted the positive changes to the community, including employment generation and improved living standards for farmers.

He stated, “The Programme has been a beacon of hope for the Argungu people, ushering in a new era of prosperity and empowerment. Through its initiatives, we have witnessed tangible improvements in employment opportunities, uplifting the livelihoods of our farmers and enhancing the overall quality of life in our community. We appreciate WACOT and USAID for transforming our society, economy and the people’s well-being in the Argungun community. This is indeed a collective success.”

Melissa Jones, Mission Director for USAID Nigeria, underscored the significance of the partnership between WACOT Rice and the USAID-funded West Africa Trade and Investment Hub, emphasizing the transformative potential of collaborative efforts in driving sustainable development and fostering economic growth in the region.

She said, “With $1.48 million from USAID West Africa Trade Hub, WACOT Rice successfully leveraged $8.6m of their funds, demonstrating their commitment to address the challenges faced. As a direct result of this partnership, WACOT Rice engaged over 7,600 outgrower farmers – far above the original target of 5,000. It provided them with extension services and high-quality inputs to ensure improved rice yields and a quality product.

“We are very proud of your achievements and determination to deliver results under this partnership. We look forward to even greater results for your company. Our collaboration has proven that transformation is possible.”

The Chief of the Party at Trade Hub, Robin Wheeler, also provided insights into the Program’s achievements and contribution to the local economy. He stated, “The USAID’s Trade Hub is one of the largest blended finance initiatives in the region, partnering with visionary private sector companies like WACOT Rice Limited to foster market-driven solutions, enhancing food security through sustainable advancements in local rice production. We are proud of the remarkable outcomes achieved thus far with WACOT Rice, and I look forward to witnessing their continued excellence in the food sector space in Nigeria.”

Habiba Suleiman, Head of strategic partnerships at TGI Group, also highlighted some of the achievements of the outgrower programme. She said, “During the peak of the COVID-19 pandemic and widespread floods devastating rice farms, our $10 million Argungu Outgrower Expansion Project emerged as a lifeline for distressed smallholders. We surpassed our goals through collaborative efforts and innovative strategies, including leveraging the Wacot Rice Outgrower Program. With a focus on sustainability, inclusion, and job creation, we exceeded expectations, witnessing a remarkable increase in women’s participation, triggering over $19 million in paddy sales, achieving significant yield increases, and generating over 7500 new jobs. Our deliberate efforts in empowering young women as agronomists and field officers have further enriched our community impact.”

Some beneficiaries of the initiative expressed profound gratitude for its multifaceted impact. A male beneficiary, Ibrahim Alhassan, said,” throughout the programme, we got financial advice, which has been instrumental to our business and life. Also, the programme improved our wellbeing and personal hygiene, and we learned new ways to address preventable diseases. And most importantly, my output tripled. I appreciate the organizers of the programme.”

One of the female beneficiaries, Rabiu Umaru, said, “before, women weren’t farming a lot, but now, thanks to WACOT Rice and Trade Hub, we are farming more land than ever before, from half a hectare to 2 hectares. They helped us to manage water better with canals, and they gave us machines to make our work easy. They also helped us to open bank accounts and get money, making it easier to save and spend,”

WACOT Rice cemented its commitment to the expansion of rice production by signing a co-investment partnership worth $10.5 million with the West African Trade and Investment Hub to support the Argungu Rice Outgrower Expansion Project in Kebbi State in December 2020.

 

News

Who is TGI Group?

Wednesday January 31, 2024

Tropical General Investments (TGI) Group, a formidable global conglomerate, is making waves with a strategic focus on emerging markets across Africa, the Middle East, and Asia. TGI Group’s investments are centered on fostering inclusivity and value addition, utilizing locally sourced raw materials, state-of-the-art manufacturing facilities, and a dedicated workforce of over 20,000 skilled professionals. The […]

Tropical General Investments (TGI) Group, a formidable global conglomerate, is making waves with a strategic focus on emerging markets across Africa, the Middle East, and Asia. TGI Group’s investments are centered on fostering inclusivity and value addition, utilizing locally sourced raw materials, state-of-the-art manufacturing facilities, and a dedicated workforce of over 20,000 skilled professionals. The result is a portfolio of world-class products consumed both locally and exported to global markets.

TGI Group operates in emerging markets across Africa, the Middle East, and Asia, contributing to economic growth and development in these regions. The conglomerate’s global reach positions it as a key player in driving inclusivity and sustainable business practices.

TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products, and Pharmaceuticals. In markets such as Nigeria, Ghana, Benin, and the UAE, brands like Big Bull Parboiled Rice, Terra Seasoning cubes, Supramult Multivitamins, Golden Terra Soya Oil, Renew Homecare Products, Vinash, and Dragon crop protection products have become household names, touching the lives of millions of consumers daily.

TGI Group is a major exporter of commodities such as raw cashew nuts, cocoa beans, cotton lint, ginger, sesame, soymeal, soya bean, soy lecithin, shrimps, and fish. These products, originated and value-added by TGI Group’s companies, contribute to global trade and showcase the conglomerate’s commitment to quality.

This year alone the Group has commissioned new factories in Dubai – UAE, India, and Nigeria. They also launched various new production lines in Benin Republic, and several locations in Nigeria.

In 2019, TGI Group ventured into the financial services sector by establishing Titan Trust Bank. The bank has since acquired a majority shareholding in Union Bank Nigeria, the second oldest bank in Nigeria, further diversifying TGI Group’s operations.

A believer in strategic alliances to drive inclusive development, TGI Group has partnered with governments, development organisations including USAID funded West Africa Trade and Investment Hub, GIZ/CARI, GAIN, and so on.

Last month, TGI was part of Mr. President’s private sector delegation during his visit to Germany (November 2023) and where Union Bank signed a USD500 million contract for the development of renewable energy projects with Germany’s DWS Group (majority owned by Deutsche Bank) as part of Luxembourg-based Universal Green Energy Access Programme, which is backed by the United Nations Green Climate Fund as the anchor investor.

Just last week, the Group again announced its partnership with Niger State Government. Under the terms of this agreement, Niger State Government will spearhead the cultivation, harvesting, aggregation, and sales of vital crops such as paddy, soya beans, maize, and sesame seeds. Acting as the Off-taker, TGI Group will assume responsibility for the seamless purchase and transportation of the farm produce. Through Union Bank, the Group also announced an investment of 50 billion Naira as a capital infusion to kickstart production, with the ambitious commencement timeline set for January 2024.

In response to media reports surrounding documents purportedly submitted to the President by the Special Investigator probing the activities of the Central Bank of Nigeria, it has been noted that certain assumptions in the document linked the ownership of Titan Trust Bank and Union Bank of Nigeria to former CBN Governor, Godwin Emefiele. Both Titan Trust Bank and TGI Group have denied having any connections with Emefiele, or acting as proxies for him.

It is imperative to categorically state that some of the assumptions made in the purported document are considered incorrect, potentially leading to conclusions that may not necessarily reflect the actual reality.

The involved parties maintain their commitment to transparency and due process and are open to providing accurate information to address any misunderstandings. Further clarifications will be provided as necessary.

Head, Corporate Communications, TGI Group, Rafiat Gawat, in a statement, said some of the assumptions in the report were incorrect, “thereby resulting in a conclusion that may not necessarily reflect the actual reality.”

She noted that as the majority owner of Titan Trust and Union Banks, TGI had been doing business in Nigeria for close to 45 years and had evolved into one of the largest companies in West Africa.

“Today, TGI employs over 20,000 people spread through the length and breadth of Nigeria. We have over ₦3.75trilllion in assets and as of 2022, our annual revenues stood at over N1.74 trillion.

“Our companies and entities are exemplary corporate citizens of Nigeria and pay over N50 billion annually in taxes to the government. The acquisition of Union Bank by Titan Trust Bank followed all the laid down rules and regulations. The approximately USD500 million capital used to pay for the transaction was transparent and unimpeachable. The entire transaction was managed by highly reputed global financial institutions including Rothschild and Citibank. And like most major acquisitions, the process took years to complete.”

Gawat said $300m loan was sourced from African Export-Import Bank (Afreximbank) and the rest of the capital was sourced from the proceeds of TGI’s sales of its Chi Ltd business to Coca-Cola, all to finance the acquisition of Union Bank.

“The purported investigation report recommended that the federal government should take over the banks. Such declarations based on incorrect assumptions portray Nigeria negatively, especially when the president is tirelessly seeking and courting foreign investments into the country.

“TGI operates in 13 countries, including Nigeria, India, Morocco, Germany and the United Arab Emirates in agribusiness, industrial chemicals, real estate development and financial services. The opening of our USD75 million dairy factory in Dubai in November 2023, is a further testimony to our international status and a proof of our presence in the country, contrary to the alleged claim by the purported report.”

She said TGI’s commitment to Nigeria’s economic development and President Bola Ahmed Tinubu’s Renewed Hope Agenda was evident in our activities across the country.

“We are a partner with Lagos state government on the 32 metric-tonne Imota Rice Mill in Ikorodu, and was also the sole supplier of paddy rice to the Lagos-Kebbi Lake Rice project. TGI also partners with Edo State Government to run their fertilizer blending plant, where we are the only producers of the chemical blend of NPK fertiliser that millions of Nigerian farmers use every season.

“Additionally, we have state-of-the-art rice mills and Sesame factories in Kebbi and Jigawa states; foods and agrochemical production lines in Ogun and Lagos, and recently, signed a N50 billion financing agreement to support agricultural initiatives in Niger state which is projected to provide tens of thousands of jobs to the locals and improve food security in the country.”

Gawat said the investigator’s claim that Union Bank did not respond to his request for information was “misleading as all the information requested was submitted on the 1st September, 2023.

“It’s a well-known fact that Mr Vink, who has been in Nigeria since 1978, is an elderly person and has recently been medically advised to limit his movements. This was duly communicated to the investigator with supporting documents,” she stated.

“TGI’s capital, ownership and selling of Chi to a multinational such as Coca cola is proof that Mr Vink is not a proxy. The Group’s ability to engage and work with reputable international financial advisors and bankers attests to the Group’s global credibility. Union Bank was not owned by government and no government money (CBN or AMCON) was used to buy it. The process was diligently followed as captured in the report of the investigator.

“As responsible corporate citizens, we are always willing, ready, and able to support stakeholders including regulators to learn and understand our Group and its operations.”

In conclusion, TGI Group stands as a prominent global conglomerate with a steadfast commitment to fostering inclusive development and sustainable business practices across emerging markets. The conglomerate’s extensive portfolio of world-class products, strategic partnerships, and contributions to economic growth underscore its significant impact.

Amid recent media scrutiny, TGI Group, Titan Trust Bank, and Union Bank of Nigeria assert their transparency, adherence to regulations, and dedication to providing accurate information. As a key player in various sectors, TGI Group’s enduring commitment to Nigeria’s economic development, exemplified through partnerships and investments, reinforces its pivotal role in shaping a positive narrative for the nation. The conglomerate remains poised to collaborate with stakeholders, regulators, and the government, demonstrating its continuous support for the Renewed Hope Agenda and contribution to the nation’s prosperity.

News

Agric Minister Flags Off WACOT Rice’s 2024 Outgrower Program

Tuesday January 23, 2024

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, on Friday, January 19, flagged off WACOT Rice Limited’s 2024 dry season farming input distribution to outgrower farmers in Argungu, Kebbi State. The out-grower program seeks to increase the quality of smallholder farmer livelihoods via access to required agri-input financing, capacity-building training on Yield Enhancement […]

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, on Friday, January 19, flagged off WACOT Rice Limited’s 2024 dry season farming input distribution to outgrower farmers in Argungu, Kebbi State.

The out-grower program seeks to increase the quality of smallholder farmer livelihoods via access to required agri-input financing, capacity-building training on Yield Enhancement Techniques (YET), and Good Agronomic Practices (GAP).

The Minister, who also inspected WACOT Rice’s state-of-the-art 250,000-ton mill ahead of its inauguration later in the year, expressed delight with the initiative, noting that it would boost farmers’ productivity and income.

Senator Kyari lauded WACOT Rice and its parent company, Tropical General Investments (TGI) Group, for empowering farmers across various value chains nationwide.

Highlighting TGI’s substantial investments in agriculture and other sectors, the Minister affirmed the alignment of these investments with President Bola Ahmed Tinubu’s Renewed Hope eight point agenda.

“I am impressed with what I have seen. This project is heading in the right direction, utilizing the farm produce from local farmers for raw materials. The government stands ready to support initiatives like WACOT Rice, recognizing their potential to create jobs and improve livelihoods. As part of our strategic focus, we are actively considering creating a farm land for WACOT Rice, further enhancing our agricultural capabilities.” he said.

Chairman of WACOT Rice and Vice Chairman (Africa) of TGI Group, Farouk Gumel emphasized WACOT Rice’s unwavering commitment to Nigeria’s food security. He highlighted the inclusivity of the outgrower program, supporting farmers of all demographics with certified seeds, agrochemicals, and training sessions to enhance productivity and income.

Gumel expressed enthusiasm for hosting special guests at the project site, acknowledging that the general understanding of their initiatives might be limited. He stated, “Whenever we have special guests visit us here, we get very excited. The feedback we receive encourages us to intensify our efforts in production. The community here is peaceful, inclusive, and accepting, and what we’ve achieved is not just a result of hard work but also the love shown by the host community. This encouragement is what propelled us to undertake some of the initiatives we have implemented. If more investors in Nigeria extend their reach into the rural economy and replicate similar projects, our country could gain an unparalleled competitive advantage.”

Expressing gratitude to the Honorable Minister for the visit, Gumel also thanked the Federal Republic of Nigeria, particularly the President, for dedicating a Ministry to not just agriculture but also food security. He reassured the nation, saying, “We are here to assure him and the rest of Nigeria that we will play our part in bringing peace and prosperity to the nation through our agricultural endeavors.”

Over 10,000 registered farmers including a large number of women and youth in the state, will receive agri-inputs, water pumps, training sessions and extension support during the dry season farming period.

Commenting on the activity, one of the farmers Hajia Nafisa from Augie Local Government area also appreciated WACOT Rice for the initiative.

“Prior to this time, It has always been hard for us carry out our duties as female farmers, but with the intervention of WACOT Rice, we have been able to carry out our farming duties easily because we were given some inputs like fertilizer, water pumps, alongside trainings and guidance.” she said.

Ibrahim Alhassan, a Dabuzama Rice Farmers Association member,  expressed heartfelt gratitude by acknowledging the significant impact of WACOT Rice through its Agri-input loan program. Alhassan emphasized that WACOT Rice’s support has been pivotal. He said, “WACOT Rice’s continuous assistance, from providing essential inputs showcased in the display stand to comprehensive training and capacity building, has transformed our lives”.

Despite these strides, Alhassan shed light on a pressing challenge – the escalating energy cost for irrigation. Foreseeing difficulties sustaining dry-season farming, Alhassan appealed to the Honourable Minister for support. Specifically, Alhassan advocated for assistance in acquiring solar water pumps, recognizing their potential to address the current energy cost challenges.

Furthermore, Alhassan emphasized ensuring that support reaches genuine farmers directly. He proposed leveraging the trustworthy partnership with WACOT Rice to ensure the effective and transparent distribution of agricultural support.

News

Ogun Governor, Minister of Industry Inaugurate TGI’s Expanded Sagamu Factory Complex

Thursday January 11, 2024

We have completed and inaugurated the expansion of our state-of-the-art Sagamu Factory Complex housing WASIL Limited and WACUB Limited. Eminent guests, including the Ogun State Governor, Prince Dapo Abiodun, the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, and other industry stakeholders were guests of TGI at the ceremony, which was held on Tuesday, […]

We have completed and inaugurated the expansion of our state-of-the-art Sagamu Factory Complex housing WASIL Limited and WACUB Limited.

Eminent guests, including the Ogun State Governor, Prince Dapo Abiodun, the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, and other industry stakeholders were guests of TGI at the ceremony, which was held on Tuesday, January 9, 2024, at TGI’s Flowergate Mixed Development Complex, Sagamu, Ogun State.

The Minister’s visit to the Complex is part of the first phase of her nationwide tour of manufacturing facilities as she rolls out the Ministry’s Strategic Roadmap.

Leading the delegation during the commissioning, Group Managing Director of TGI Group, Rahul Savara said receiving the Governor and the Minister was an honour.

He said, “It is our distinguished honour and privilege to have two of you together today to see what is happening here formally and also to commission some of our expansions that have happened in the recent past. Thank you very much for coming. We appreciate your visit.”

Speaking at the ceremony as he commissioned the second phase of the WASIL factory where Golden Terra Soya Oil is made, Governor Abiodun congratulated TGI Group for being a classic example of the success of Ogun State.

He said, “You are a reference point in the Industry. A shining example of Foreign Direct Investment coming to Nigeria and doing things excellently.” He added that the project attests to the state’s vision to create an enabling environment for private investors, leading to an improved state economy and the people’s standard of living.

Prince Abiodun noted, “If we are not genuinely implementing that vision, you won’t be expanding capacity here. The Group has also tried to reduce the state’s unemployment rate. By this project, there would be more employment for citizens and an increase in taxable citizens.

“I must commend your deep sense of Corporate Social Duties as well because I recall that during COVID, you were among those who rose to the occasion and supported us, and that is why you would continue to grow in leaps and bounds.”

The Minister, who inaugurated the new extension of WACUB Limited, makers of Terra Seasoning Cubes, commended TGI for its significant contributions to employment and Nigeria’s economic development.

She said, “I am delighted and happy that we are witnessing this expansion of our industries. I specially want to applaud the Governor of Ogun State for making this happen. President Bola Ahmed Tinubu knows about the challenge of unemployment, pressure on manufacturing and economic diversification, and is determined to tackle it conclusively. The cost of inaction is high, and we cannot afford it. This project will go a long way in addressing some of these challenges. We appreciate TGI for this project and for being futuristic.”

Dr Uzoka-Anite added that the project will significantly increase the country’s Gross Domestic Product (GDP) and economic development.

Executive Director and Vice Chairman of Africa, TGI Group, Farouk Gumel, expressed the conglomerate’s gratitude to the governor and the Minister. He assured the guests of TGI’s commitment to Nigeria’s growth with its extensive investments in sectors including food and beverage production, chemical manufacturing, poultry farming, marine aquaculture (covering both fish farming and deep-sea trawler operations), pharmaceutical manufacturing, real estate, agribusiness, and financial services.

“We appreciate our guests not just for today but because they have been with us for a very long time. They are good listeners and always take action afterwards. TGI is committed to providing solutions in agriculture. We are also building our fertilizer and Agro chemical plants nearby, which tells you we are progressing well.

“On behalf of the TGI group, we say thank you very much, and I wish Nigeria all the best going forward as we strive to do what we need to do, to deliver ourselves from all our problems; thank you very much,” Gumel said.

Also present at the ceremony were TGI Group’s founder and Chairman, Mr. Cornelis Vink, Dr Ifeanyi Okeke, Director General S.O.N, Mr. Kamar Bakarin, ES/CEO Sugar Council, Dr Rabiu Olowo, CEO of Federal Financial Reporting Council, Muhammed Bala, Director IDD Federal Ministry of Industry, Trade and Investment, and members of management at TGI Group.

Blog News

SPECIAL RELEASE – Union Bank Acquisition

Sunday December 24, 2023

Lagos, December 24, 2023.   Union Bank of Nigeria Acquisition Our attention has been drawn to media reports emanating from purported documents allegedly submitted to the President by the Special Investigator probing the activities of the Central Bank of Nigeria, where he linked our ownership of Titan Trust Bank and Union Bank of Nigeria to […]

Lagos, December 24, 2023.

 

Union Bank of Nigeria Acquisition

Our attention has been drawn to media reports emanating from purported documents allegedly submitted to the President by the Special Investigator probing the activities of the Central Bank of Nigeria, where he linked our ownership of Titan Trust Bank and Union Bank of Nigeria to former CBN Governor, Godwin Emefiele. We want to categorically state that some of the assumptions made in the purported document were incorrect, thereby resulting in a conclusion that may not necessarily reflect the actual reality. The true facts of the case are as follows:

Tropical General Investment Group (TGI) is the majority owner of Titan Trust Bank and Union Bank of Nigeria. We have been doing business in Nigeria for close to 45 years and have evolved into one of the largest companies in West Africa.

Today, TGI employs over 20,000 people spread through the length and breadth of Nigeria. As of 2022, we have over ₦3.75trilllion in assets and our annual revenues stood at over ₦1.74 trillion. Our companies and entities are exemplary corporate citizens of Nigeria and pay over N50 billion annually in taxes to the Federal Government. The acquisition of Union Bank of Nigeria by Titan Trust Bank followed all the laid down rules and regulations. The approximately USD500 million capital used to pay for the transaction was transparent and unimpeachable. The entire transaction was managed by highly reputed global financial institutions including Rothschild and Citibank. And like most major acquisitions, the process took years to complete.

A USD 300 million loan was sourced from African Export-Import Bank (Afreximbank) and the rest of the capital was sourced from the proceeds of TGI’s sales of its Chi Ltd business to Coca-Cola, all to finance the acquisition of Union Bank.

The purported investigation report recommended that the federal government should take over the two banks in question. Such declarations based on incorrect assumptions portray Nigeria negatively, especially when the President is tirelessly seeking to court foreign investments into the country.

TGI operates in 13 countries, including Nigeria, India, Morocco, Germany and the United Arab Emirates in agribusiness, industrial chemicals, consumer products, real estate development and financial services. The opening of our USD75 million dairy factory in Dubai, UAE in November 2023, is a further testimony to our international status and a proof of our presence in the country, contrary to the alleged claim by the purported report.

TGI’s commitment to Nigeria’s economic development and President Bola Ahmed Tinubu’s Renewed Hope agenda is evident by our activities across the country. We are a partner with Lagos state government on the 32 metric-tonne Imota Rice Mill in Ikorodu and were also the sole supplier of paddy rice to the Lagos-Kebbi Lake Rice project. TGI also partners with Edo State Government to run their fertilizer blending plant, where we are the only producers of the chemical blend of NPK fertiliser that millions of Nigerian farmers use every season.

Additionally, we have state of the art rice Mills and Sesame factories in Kebbi and Jigawa states, foods and agrochemical production lines in Ogun and Lagos, and recently, signed a N50 billion financing agreement to support agricultural initiatives in Niger state which is projected to provide tens of thousands of jobs to the locals and improve food security in the country.

Only last month, TGI was part of Mr. President’s private sector delegation during his visit to Germany
(November 2023) and where Union Bank signed a USD500 million contract for the development of renewable energy projects with Germany’s DWS Group (majority owned by Deutsche Bank) as part of Luxembourg-based Universal Green Energy Access Programme, which is backed by the United Nations Green Climate Fund as the anchor investor.

Our 45-year corporate history clearly illustrates our credentials as a leading private sector partner to the
Nigerian government, across industries critical to driving inclusive development for all Nigerians.
The investigator’s claim that Union Bank did not respond to his request for information was misleading as all the information requested was submitted on the 1st September, 2023. It is a well-known fact that Mr. Vink, who has been investing in Nigeria since 1978, is an elderly person and has recently been medically advised to limit his movements. This was duly communicated to the investigator with supporting documents.

TGI’s capital, ownership and selling of Chi Ltd to a multinational such as Coca-Cola is proof that Mr Vink is not a proxy. The Group’s ability to engage and work with reputable international financial advisors and bankers attests to the Group’s global credibility. Union Bank was not owned by government and no government money (CBN or AMCON) was used to buy it. The process was diligently followed as captured in the report of the investigator.

As responsible corporate citizens, we are always willing, ready, and able to support stakeholders including regulators to learn and understand our Group and its operations.

Thank you.

 

Signed:
Ms. Rafiat Gawat
Head of Corporate Communications
Tropical General Investments (TGI) Group
Lagos

News

TGI Employees, DashMe Foundation Organise Charity Drive

Thursday September 1, 2022

In yet another show of support for our communities, TGI CARES Foundation, our employee-led social welfare driver, has organised a charity drive for the less privileged in collaboration with DashMe Foundation. DashMe Foundation, owned by a former Minister of Finance, Mrs Kemi Adeosun, was established to raise funds and resources for orphaned and vulnerable children, […]

In yet another show of support for our communities, TGI CARES Foundation, our employee-led social welfare driver, has organised a charity drive for the less privileged in collaboration with DashMe Foundation.

DashMe Foundation, owned by a former Minister of Finance, Mrs Kemi Adeosun, was established to raise funds and resources for orphaned and vulnerable children, disadvantaged youth, and victims of domestic violence.

Across some of our subsidiaries in Lagos, including WACOT Ltd, ORC Fishing and Food Processing Ltd, TGI Distri, Cormart and Chi Pharma, we sought and put together donations in form of household items, electrical appliances, kitchenware, shoes and clothing items for the Foundation for charity sales, proceeds of which will be used to cater to the welfare of the less privileged.

Our TGI CARES Foundation will continue to collaborate with like-minded organisations as we reiterate our commitment to supporting our communities as best as we can. The TGI CARES X DashMe charity drive is yet another way we have chosen to demonstrate our commitment to this cause.

Receiving the items on behalf of DashMe Foundation, Tomisin Akinwunmi, Head of Operations applauded the donations and contributions of TGI Group’s employees while expressing gratitude and solicited support for future collaborations. DashMe Foundation’s goal of changing lives, one gift at a time, creatively raising funds through charity sales is in alignment with our desire to help the plight of the neediest member particularly around our business communities.

 

News

Terra Seasoning commences Terra Cares4Naija to mark World Food Day

Tuesday December 17, 2019

Lagos, October 11, 2019.  Terra Seasoning Cubes has launched an ambitious Food Security and Corporate Social Responsibility initiative – Terra Cares4Naija, to make a difference in the lives of 10,000+ people across Lagos State. This initiative will commence on the World Food Day (October 16, 2019). According to the United Nations report, more than one […]

Lagos, October 11, 2019.  Terra Seasoning Cubes has launched an ambitious Food Security and Corporate Social Responsibility initiative – Terra Cares4Naija, to make a difference in the lives of 10,000+ people across Lagos State. This initiative will commence on the World Food Day (October 16, 2019).

According to the United Nations report, more than one billion people are undernourished globally while under nutrition is to blame for one-third of all child deaths. One in eight people is suffering from chronic hunger. As per reports, Nigeria has the highest number of people below poverty line in entire Africa and 53.5% Nigerians live less than $1.90/day. This year, the World Food Day calls for action across sectors to make healthy and sustainable diets affordable and accessible to everyone.

Terra Seasoning Cubes, launched in April this year, is now taking an initiative towards making a difference in the lives of these vulnerable and underprivileged people by providing nourishing food to them.

Addressing a press conference in Lagos, Marketing Manager of TGI Distri Limited (Marketers of Terra Seasoning Cubes, Big Bull Rice, Renew fabric care range amongst others), Mr. Govind Agarwal said this initiative is true to the values which make TGI group, a responsible business in the Nigerian Society. Through the Terra Cares4Naija initiative, the business will positively impact society and give back to the community where it operates. Commencing from October 16 which is celebrated globally as the World Food Day, Terra will be reaching out to 1000+ people every Saturday for 10+ weeks across different parts of Lagos and provide them with nutritious food. In all, it will impact 10,000+ lives during this period and increase access to quality food amongst communities. “We believe that a healthy population is an asset to a nation; hence we are at the fore in driving the conversation on the need to eat right and cook with the right seasoning which Terra Cube offers. The importance of good nutrition in raising a healthy family cannot be overemphasized”, Agarwal said.

“Terra Seasoning Cubes is a true cooking seasoning sensation allowing everybody to enjoy the great taste. Terra Seasoning Cubes have particularly been designed to meet the palate requirements of all Nigerians especially in terms of aroma and flavor. It is available in two variants: Beef and Chicken, in sizes of single cubes of 4gm. They are also designed to preserve the aroma of meals during and after cooking”, he added.

TGI Distri Limited is a member of the TGI Group, the conglomerate that produced reputable companies like Chi Limited and iconic brands like Chivita & Hollandia. TGI group also has subsidiaries like Cormart, West Africa Cotton Company (WACOT), Chi Farms amongst others that produced strong national brands like Renew Starch and Big Bull Rice etc.

TGI Distri Limited is the distribution, sales and marketing arm of TGI Group companies and is the marketer of Terra seasoning, Big Bull Rice, Renew Starch, Shine All Dish washing Liquid, Shine All Scouring powder and many other notable brands. TGI Distri is also the fulcrum and catalyst for innovation and New Product Development for the TGI Group.

News

WACOT LTD. Celebrates Gov. Badaru Abubakar of Jigawa State at Sesame Farmers Forum

Tuesday December 17, 2019

Gumel, Jigawa (August 15, 2019) – WACOT Limited has honored Gov. Mohammed Badaru Abubakar, the executive governor of Jigawa state with the WACOT Ltd Distinguished Honorary Patron award, for his substantial and outstanding services and contributions to the growth of Agriculture in the state. Alh. Sadiq Kassim, General Manager, Corporate Affairs, TGI Group (parent company […]

Gumel, Jigawa (August 15, 2019) – WACOT Limited has honored Gov. Mohammed Badaru Abubakar, the executive governor of Jigawa state with the WACOT Ltd Distinguished Honorary Patron award, for his substantial and outstanding services and contributions to the growth of Agriculture in the state.

Alh. Sadiq Kassim, General Manager, Corporate Affairs, TGI Group (parent company of WACOT Ltd) and National Deputy President National Sesame Seed Association of Nigeria (NSSAN) presented the award certificate to His Excellency, Gov. Mohammed Abubakar during the conferment ceremony at the inaugural stakeholders’ forum of the association held at the Gumel Emirates Foundation Hall in Jigawa.

Corporate Responsibility and Sustainability Manager, WACOT Ltd, Ms. Osenaga Umobuarie, described the support of the governor as laudable highlighting his enormous contributions and achievements in the state including encouraging sesame seed farmers through good agricultural practices leading to its global acceptance. She said, “Your excellency, under your watch, Jigawa has grown from a marginal sesame seed producer to the main producer in the country, placing Nigeria as the third-largest exporter of sesame seed globally with 580,000MT per annum”.

Gov. Mohammed Badaru Abubakar disclosed his continuous support for WACOT Ltd and its quest for the development and growth of agriculture in the state. “Our current strategy is to diversify our non-oil exports to meet the needs of our families and communities. We must be able to feed our two hundred million Nigerians and create jobs by doing this. We need to move away from the shocks associated with oil prices which have exposed our economy to factors outside our control”, the governor said.

He further acknowledged the contributions of WACOT Ltd in improving the lives of its farmers and resolved to work together to maintain the state’s reputation as the leading state in non-oil export produce in Nigeria.

Present at the ceremony was the Emir of Gumel, HRH Alh. Ahmed Mohammed Sani II, representatives of the Corporate Affairs Commission (CAC), various agricultural development partners and community heads across the state.

WACOT Limited is a leading food and agro-allied company with sizeable investments in value chains of various crops across Nigeria from origination to aggregation, processing, supply chain and logistics, manufacturing and branding. Its areas of operation are edible nuts, cocoa, maize, sorghum, cotton and cottonseed, agrochemicals amongst others. WACOT Ltd is the agribusiness arm of Tropical General Investments (TGI) Group.

News

CORMART Launches New PVC Glue

Tuesday December 17, 2019

CORMART Nigeria Ltd., a leading chemical company in Nigeria and a member of TGI Group, has recently launched a new resin-based PVC adhesive for plumbers. The new adhesive called VinkoGit is a special glue used for joining PVC pipes, a key material in plumbing and construction. VinkoGit which is produced at the company’s factory located […]

CORMART Nigeria Ltd., a leading chemical company in Nigeria and a member of TGI Group, has recently launched a new resin-based PVC adhesive for plumbers.

The new adhesive called VinkoGit is a special glue used for joining PVC pipes, a key material in plumbing and construction. VinkoGit which is produced at the company’s factory located at KM51, Lagos-Ibadan Expressway, is set to replace imported PVC glues in Nigeria, which are more commonplace.

CORMART’s General Manager, Dr. Johannes Flosbach, disclosed during the launch that, “VinkoGit is an absolute premium product in its category, and it is of a higher quality than most of its imported counterparts”.

He went on to state that CORMART intends to increase local production of many of its product offerings. He said, “We have a strategy to replace imported products with quality locally produced chemicals. We have a dedicated Research and Development department that continuously seeks to improve the quality of products by introducing better alternatives into the market”.

The Business Unit Head of CORMART’s Adhesives Department, Mr. Diwakar, explained that customers like the quality of the new adhesive and sales have already exceeded expectations. He said, “We have partnered with the Plumbers Association of Nigeria and carried out trade sensitization programs across Nigeria, which have been very successful.”

About CORMART Nigeria Ltd.:

CORMART Nigeria Ltd. is one of the leading chemical and food raw materials companies in Nigeria, and a member of the Tropical General Investments (TGI) Group, a global conglomerate with a majority of its investments based in emerging markets.
Since its inception in 1981, it has been on the forefront of production, importation, stocking and distribution of chemicals and other raw materials across the paint, confectioneries, cosmetics, pharmaceutical, food and beverage industries. With cutting edge and cost-effective products and solutions, CORMART represents the business interests of top Multinational Companies who wish to do business in Nigeria. CORMART is committed to the continuous expansion of product lines to meet emerging market demands.

News

TGI Distri storms seasoning market with the launch of Terra Seasoning Cubes

Monday April 15, 2019

TGI Distri Limited has launched and announced the availability of Terra Seasoning Cubes in all markets across Nigeria. Terra Cubes is produced by West African Cubes (WACUB) Limited at its ultra-modern plant in Sagamu, Ogun State. Mr. Sunil Sawhney, Managing Director of TGI Distri, stated that: “Terra Seasoning Cubes are a true cooking sensation allowing […]

TGI Distri Limited has launched and announced the availability of Terra Seasoning Cubes in all markets across Nigeria. Terra Cubes is produced by West African Cubes (WACUB) Limited at its ultra-modern plant in Sagamu, Ogun State.

Mr. Sunil Sawhney, Managing Director of TGI Distri, stated that: “Terra Seasoning Cubes are a true cooking sensation allowing everybody to enjoy the great taste. We are now releasing two variants; Beef and Chicken into the market. Both variants come in single cubes of 4gm. Terra Cubes have particularly been designed to meet the palate
requirements of all Nigerians especially in terms of aroma and flavour. They are also designed to preserve the aroma of meals during and after cooking”.

 

 

“The response from product testers and early adopters have been very encouraging and we could not be more enthusiastic about releasing this seasoning revolution to the market,” he added.

Also speaking at the product unveiling event, which took place in Lagos, Dr. Onyekachi Onubogu, Executive Director – Commercial of TGI Distri, said: “Terra seasoning is launching with two SKUs to address different pocket power: 50-cube pack and a 25-cube pack. We are also launching with 5 free cubes in the 50-cube pack and 2 free cubes
in the 25-cube pack as a consumer promo”.

Giving reasons for the choice of the brand’s pay-off line “Locks the aroma in; Gets the taste out”, Onubogu stated that Terra Seasoning Cube has been formulated and manufactured to preserve the aroma of meals during and after cooking.

Responding to a question on why he believes the new brand will be accepted by the market, Mr. Sawhney said: “We believe in studying the needs of our consumers and acquiring genuine insights into their requirements and demands. We respond to these requirements with better products and services that enhance the quality of life. We
support our product offerings with strategic marketing and sales initiatives”.

Sawhney continued “we’re excited to be launching these new variants of seasoning cube into the market and we have no doubt that in a short period of time Terra Seasoning will gain a competitive edge over other brands and control a large chunk of the market”.

“Terra Seasoning Cube is an outcome of painstaking research, it is many steps ahead of other brands in the market in terms of taste and aroma.  I enjoin everyone to try it”, he added.

There was also a lot of fanfare and celebrations at the launch including a food tasting event.

TGI Distri Limited is a member of the TGI Group, former owners of Chi Limited, producers of Chivita and Hollandia. The conglomerate has continued to grow and owns other reputable companies such as Cormart (Nigeria) Ltd, WACOT Ltd, Chi Farms Ltd, WACOT Rice Ltd, among others.

TGI Distri Limited is the sales, distribution and marketing arm of TGI Group Companies’ Consumer Products and is the marketer of Terra Seasoning Cubes, Big Bull Parboiled Rice, Renew Starch, Shine All Dishwashing Liquid, Shine All Scouring Powder and many other notable Brands. TGI Distri also serves as the Innovation and New
Product Development Centre for the TGI Group.

News

TGI Marks 2018 Food Safety Week and World Quality Day

Thursday November 29, 2018

For the past four years, TGI Group across all its operations has observed the Food Safety Week wrapped up with the World Quality Day. This year was no different. he 2018 TGI Food Safety Week was held November 12 – 15, 2018, followed by the World Quality Day on November 23rd, 2018. Themed: Procure no […]

For the past four years, TGI Group across all its operations has observed the Food Safety Week wrapped up with the World Quality Day. This year was no different. he 2018 TGI Food Safety Week was held November 12 – 15, 2018, followed by the World Quality Day on November 23rd, 2018.

Themed: Procure no defect; Produce no defect; Pass-on no defect, the World Quality Day event was well attended by both members of staff and management. Gracing the occasion was the Chairman of TGI Group, Mr. Cornelis G. Vink, TGI Group Managing Director, Mr. Rahul Savara, Group Executive Director, Mr. Jerome Shogbon, and other
members of the executive management team across the Group’s businesses.

Featuring messages from all and sundry on the importance of quality to the business in all areas, the key message as stated by the GMD, Mr. Rahul Savara in his opening remark was that “Quality is a culture which must be imbibed in every facet of the business’. This was reiterated by all the speakers as well.

The Chief Quality Officer for the Group, Mr. Mohammed Mustafa, recanted the reasons for the theme, stating that for the organization to achieve the 3Ps, it will take teamwork. In his words, “it is the policy of the Group to ensure that the businesses consistently deliver products and services to customers, which totally meet Quality, Food Safety,
Efficacy and Regulatory requirements”.

The event wrapped up with the recitation and signing of the quality pledge, led by GED, Mr. J.O. Shogbon.

Meanwhile, staff across the Group celebrated the Food Safety Week with activities, such as: Quality Policy Recitation, Cleaning and Sanitation among others.

News

CHI Farms Partners Zoetis to Improve Livestock Health in Nigeria

Monday September 10, 2018

Chi Farms Limited is partnering with ZOETIS, a global animal health care company and representative of Bill and Melinda Gates Foundation in Africa to establish an ultra-modern veterinary centre in Ibadan, Oyo state, Nigeria, called “City Laboratory”. The world-class veterinary centre which will execute scientific research programmes, deliver quality diagnostic products, medicines and vaccines as […]

Chi Farms Limited is partnering with ZOETIS, a global animal health care company and representative of Bill and Melinda Gates Foundation in Africa to establish an ultra-modern veterinary centre in Ibadan, Oyo state, Nigeria, called “City Laboratory”.

The world-class veterinary centre which will execute scientific research programmes, deliver quality diagnostic products, medicines and vaccines as well as carry out genetic tests, biodevices and a range of other animal care services were built under ZOETIS’s African Livestock Productivity and Health Advancement initiative (A.L.P.H.A.).

Supported by the ZOETIS/ALPHA Initiative, CHI Farm’s City Laboratory is being established with the purpose of improving livestock health in Nigeria through quality medical supplies and veterinary consultations to local farmers.

According to the General Manager of CHI Farms Limited, Dr. Tunji Olaitan, the laboratory will provide world-class veterinary services, diagnosis and medicines for Nigerian farmers at affordable rates.

He further revealed that its partner, ZOETIS, will also support local farmers with all technical expertise as well as materials and equipment needed for education and training to help increase productivity.

“Access to the right medicines, diagnostics laboratory facilities and education nationwide will help farmers raise healthier animals and secure more sustainable revenues, which is critical to the health and economic development of the country. Only healthy animals can produce healthy food and that is what City Laboratory is all about”
he said.

News

CHI Foundation Commissions Water Treatment Plants in 2 Communities in Lagos

Tuesday March 13, 2018

As part of its Corporate Social Responsibility (CSR), TGI Group, through its CSR arm, CHI Foundation, has commissioned two ultramodern water treatment plants in Isolo and Ejigbo Local Government Areas of Lagos State. CHI Foundation is the Corporate Social Responsibility vehicle of Tropical General Investment (TGI) Group, the parent company of CHI Limited, WACOT and […]

As part of its Corporate Social Responsibility (CSR), TGI Group, through its CSR arm, CHI Foundation, has commissioned two ultramodern water treatment plants in Isolo and Ejigbo Local Government Areas of Lagos State.

CHI Foundation is the Corporate Social Responsibility vehicle of Tropical General Investment (TGI) Group, the parent company of CHI Limited, WACOT and other affiliated companies, manufacturers of products such as Chivita, Hollandia, Big Bull Rice, Renew starch etc. Members of the benefiting communities could not hide their joy as they turned out in droves for the handover ceremonies which took place at Awoyemi Street, NNPC Road, Ejibgo and
Agedegudu Street, Mushin Road, Isolo respectively.

According to the Chairman of CHI Foundation, Rt. Rev. Oluranti Odubogun, the donation of the facilities is part of the Foundation’s bid to impact on the lives of the people and also fulfil the corporate social responsibility of the organisation.

Rev. Oluranti revealed that several projects have been carried out by the Foundation since inception all over the country. “Since the inauguration of this Foundation, several impactful projects have been launched while several communities and people have benefited from these corporate initiatives of our brand” “The Foundation’s vision of improving the quality of life of Nigerians is not confined to Lagos where the TGI Group has its corporate head office. Rather, the Foundation has provided state of the art borehole facilities to other states of the country like Oyo, Osun and Ekiti states”.

He encouraged the benefiting communities to take ownership of the projects and urged them to take all reasonable measures to protect them against misuse and vandalism. The Foundation promised to maintain the facilities for the next two years during which it will also undertake other projects that will make life more comfortable for them.

Speaking during the commissioning, the Chairman of Ejigbo LCDA, Hon. Alhaji Bello Monsuru Obe expressed delight at the project which he described as timely and thanked the management of TGI Group and CHI Foundation.
“I want to thank the management of TGI Group and CHI Foundation for this initiative and for coming to the rescue of Ejigbo people. This is the kind of CSR project I have been praying for” He said.

Also speaking the Chairman of Isolo Local Government Area, Honourable Samsudeen Abiodun Olaleye said “When I learnt that TGI Group’s CHI Foundation is behind this project, I was not surprised because they are known for good CSR initiatives. I want to show my gratitude to them and also urge our people to make good use of this facility”. Commenting on behalf of Isolo community, Alhaji F.A Abisiga, Chairman Isolo Community Development Committee (CDC) appreciated CHI Foundation for the project and assured that the facility will be judiciously utilized.

Also commenting, Mr. Mudashiru Rabiu Oke, a community representative of Ejigbo LCDA said, he was delighted when he heard of the intention of CHI Foundation to establish a water project in Ejigbo and that he is more pleased now that the project has been completed and commissioned for use.

Mr. Oke added that the water project will go a long way in reducing the suffering of the people of
Ejigbo who have to walk long distances every day to get access to clean water.

News

TGI, NFF kick-off Multi-Million Naira Sponsorship Agreement for the Super Eagles

Wednesday December 6, 2017

Tropical General Investments (TGI) Group, an international investment and holding company with diversified interests and investments in Nigeria, Ghana, Republic of Benin, Morocco, UAE, South Africa, India and several other emerging markets has announced a landmark agreement with the Nigerian Football Federation (NFF) to support the senior National Football teams, in their quest to win […]

Tropical General Investments (TGI) Group, an international investment and holding company with diversified interests and investments in Nigeria, Ghana, Republic of Benin, Morocco, UAE, South Africa, India and several other emerging markets has announced a landmark agreement with the Nigerian Football Federation (NFF) to support the senior National Football teams, in their quest to win laurels for Nigeria.

At a joint press briefing which took place at the Godswill Akpabio International Stadium in Uyo on Friday, the NFF unveiled the TGI Group as the ‘official food sponsor of the Super Eagles’ for the next three years. “We are enormously ecstatic to come on board as supporters of the Nigerian national football teams,” said Mr. Rahul Savara, the Group Managing Director of TGI, the parent company of WACOT Limited, Chi Limited and other companies, “the sponsorship is a further demonstration of the commitment of our business to the development of Nigeria
in all facets”.

Mr. Ujwal Senapati, the Managing director of WACOT also stated that “We strongly believe in our investments in the agricultural value chain and its impact on the socioeconomic development of Nigeria, and this new partnership we are starting with the Nigerian Football Federation will allow us to expand our footprint to the development of football in the country. We are resolutely committed to increasing our investments in the Nigerian economy, increasing employment and local content, while supporting the communities we operate in”. Continuing, Mr. Onubogu, the Group Executive Director said, “TGI Group has over three decades of experience in building local and regional sustainable businesses in fast moving consumer goods (FMCG), agriculture, agro-allied, healthcare, chemicals, etc.

He also disclosed that because of the agreement between the organization and NFF, TGI Group will be rewarding the best Nigerian player with the ‘Man of the Match’ award on the days of all qualifying matches. It would be recalled that Vice President Yemi Osinbajo recently commissioned the integrated WACOT Rice Mill in Argungu, Kebbi State. The Vice President also commissioned the Edo State Fertilizer and Chemical Company Limited (ESFCCL),
managed by WACOT Limited.

While emphasizing the unifying role of soccer in Nigeria, TGI GMD – Mr. Savara, stated that the goal of the conglomerate is to ensure that the Super Eagles does not only qualify for the 2018 World Cup but that the team puts up an exceptional and impressive performance at the competition in Russia. Speaking on behalf of the NFF, the president of the federation, Mr. Amaju Pinnick, commended the TGI Group for their timely support for the Senior National Male Football team while also appealing to other corporate organization’s to emulate the gesture.
He further disclosed that with the sponsorship by TGI, the Board and Management of NFF are better convinced that the goal of participating and excelling in the 2018 World Cup by the Super Eagles will be a reality.

His words, “The coming on board of the TGI Group is going to be a tremendously exciting development for the team. The opportunity to have the support of TGI Group and the reward for the ‘Man of the Match’ will have a huge benefit, putting the team in the best place possible to achieve our goals. We also talk a lot about creating memories
and no doubt working with TGI Group will create some fantastic memories.”

News

Osinbajo lauds Obaseki, WACOT on Edo Fertilizer

Wednesday August 30, 2017

The Vice President, Prof. Yemi Osinbajo, has commissioned the Edo Fertilizer and Chemical Company Limited, Auchi, a public-private partnership between the state government and WACOT Limited, which has the capacity to produce about 60,000 metric tonnes of fertilizer per annum. The Vice President who was accompanied by the Ministers of Agriculture and Rural Development, Chief […]

The Vice President, Prof. Yemi Osinbajo, has commissioned the Edo Fertilizer and Chemical Company Limited, Auchi, a public-private partnership between the state government and WACOT Limited, which has the capacity to produce about 60,000 metric tonnes of fertilizer per annum.

The Vice President who was accompanied by the Ministers of Agriculture and Rural Development, Chief Audu Ogbeh; and Industry, Trade and Investment, Dr. Okechukwu Enelamah, commended the foresight of the Edo State Governor, Mr Godwin Obaseki, for creating the enabling business environment which saw to the revitalization of the
fertilizer plant which had been non-functional for about 14 years.

Osinbajo commended WACOT for its foray in the agricultural sector especially in agro-processing and stated that the Buhari administration takes the private sector seriously. “We believe that government resources cannot bring about the rapid rollout we need, especially in the areas of infrastructure and industrial development. It is the private
sector that can do so. We are therefore committed to making it easy for businessmen to invest and do business everywhere in Nigeria” he said.

He commended Governor Obaseki for creating an enabling environment for the private sector to invest. “I must hasten to congratulate the dynamic and far-sighted Governor, as well as the great people of Edo State, on this great achievement. Not only will this boost the local economy, but it will also impact the national economy in a significant way. It is, therefore, a gift from Edo State to our great country”. In his remarks, Governor Obaseki said that the aim of revitalizing the plant was to make the state self-sufficient in food production and enable farmers to get fertilizer at affordable prices.

Group Managing Director of TGI Group – parent company of WACOT Limited, Mr. Rahul Savara in his remarks, stated that the cornerstone of the partnership with the Edo State Government on the fertilizer plant was the Presidential Fertilizer Initiative executed by the Nigerian Sovereign Investment Agency, the policy thrust of Governor Obaseki and support from Fertilizer Producers Association of Nigeria (FEPSAN) among others.

Speaking on the Group’s continuous investment in the agricultural sector, Mr. Savara stated that ‘we are strongly committed to the administration’s vision of attaining food self-sufficiency and economic prosperity through agriculture. And we have backed this commitment with action through continuous significant investments and interventions targeted at various agricultural value chains”.

Also commenting at the event, Mr. Ujwal Senapati, Managing Director of WACOT Limited said, “we will continue to deliver quality agricultural inputs at affordable prices to farmers, and in the near future, we will locally blend crop-specific fertilizer for a diverse range of crops”.

WACOT Limited is a market leader in agro-processing, production and distribution of agricultural inputs including certified seeds, fertilizers, pesticides, etc.

News

West Africa Soy Industries Limited (WASIL) collaborates with BIF toimprove Maize and Soy productivity in Nigeria

Friday June 9, 2017

As part of efforts to improve the productivity of Maize and Soy farmers in a replicable manner in Nigeria, West African Soy Industries Limited (WASIL) has signed a memorandum of understanding with Business Innovation Facility (BIF). WASIL is a member of WACOT/TGI Group. While the TGI Group is an international investment and holding company with […]

As part of efforts to improve the productivity of Maize and Soy farmers in a replicable manner in Nigeria, West African Soy Industries Limited (WASIL) has signed a memorandum of understanding with Business Innovation Facility (BIF). WASIL is a member of WACOT/TGI Group.

While the TGI Group is an international investment and holding company with diversified interests and investments in Africa, the Middle East and Asia, the Business Innovation Facility (BIF) is a DFID-funded market systems development programme that aims to improve the lives of the poor in three countries: Malawi, Myanmar and Nigeria.

According to the General Manager Corporate Affairs of TGI Group, Mr. Sadiq Kassim, “WASIL is currently working with the Federal Ministry of Agriculture & Rural Development and the Central Bank of Nigeria under the Food Security Programme of the Federal Government to improve the productivity of maize and soy farmers. The company is setting up a large oil milling facility in Nigeria which will provide off-take of Soybeans from out-grower farmers, while CHI Farms –another member of the TGI Group– will procure maize for its feed milling activities from them
as well”.

“The first phase will see us working with 25,000 farmers in Katsina and Kaduna States, in both the maize and soy value chains in the current cropping calendar”, Kassim added. Areas of collaboration include data capturing and the building of a database of farmers and cooperatives in Maize & Soy. While WASIL/WACOT will provide its current database of cooperatives, BIF will support the Group in designing a pre-assessment survey form to assess
the farmers’ socio-economic conditions and administering the same.

BIF will also provide the required technical assistance by providing the requisite Information Technology (IT) facilities, trained field staff to conduct the registration of the new farmers, while also conducting farm mapping and revalidation of the database provided by WASIL of farmers provided by WASIL continuous supportive supervision.

Also speaking at the signing, the Managing Director of WACOT Limited. Mr. Ujwalkanta Senapati disclosed that the WASIL–BIF collaboration will “see the emergence of new farmers’ associations and cooperatives, as well as the expansion of existing ones. The partnership will also facilitate the involvement and support of relevant public agencies and state governments in the mobilization and strengthening of these groups”.

Continuing, Mr. Senapati further disclosed that the agreement includes training and capacity building for the farmers which will be preceded with the process of assessing and identifying farmer training needs on the field, providing training resources and other training and development tools among others.

News

Katsina and Kaduna Maize and Soy Farmers to benefit from West Africa Soy IndustriesLimited (WASIL)/WACOT, BIF Collaboration

Thursday June 8, 2017

Thousands of maize and soy farmers in Katsina and Kaduna states will benefit from the collaboration between the West African Soy Industries Limited (WASIL) and the Business Innovation Facility (BIF) to enhance maize and soy farmers’ productivity. This was made known on Thursday, June 8, 2017, in Funtua, Katsina State during the signing of a […]

Thousands of maize and soy farmers in Katsina and Kaduna states will benefit from the collaboration between the West African Soy Industries Limited (WASIL) and the Business Innovation Facility (BIF) to enhance maize and soy farmers’ productivity.

This was made known on Thursday, June 8, 2017, in Funtua, Katsina State during the signing of a Memorandum of Understanding between WASIL and BIF on improving the productivity of Maize and Soy farmers in a replicable manner in Nigeria.

WASIL, a sister company to WACOT Limited is a member of the TGI Group, an international investment and holding company with diversified interests and investments in Africa, Asia and the Middle East. On the other hand, the Business Innovation Facility (BIF) is a DFID-funded market system development programme that aims to improve the lives of the poor in three countries: Malawi, Myanmar and Nigeria. BIF works to identify and address constraints in selected markets, providing technical assistance (and some grant funding) to businesses and other market players.

According to the General Manager Corporate Affairs of TGI Group, Mr. Sadiq Kassim, “WASIL is currently working with the Federal Ministry of Agriculture & Rural Development and the Central Bank of Nigeria under the Food Security Programme of the Federal Government to improve the productivity of maize and soy farmers. The company is setting up a large oil milling facility in Nigeria which will provide off-take of Soybeans from out-grower farmers, while CHI Farms –another member of the TGI Group– will procure maize for its feed milling activities from them
as well”.

“The first phase will see us working with 25,000 farmers in Katsina and Kaduna States, in both the maize and soy value chains in the current cropping calendar”, Kassim added. Areas of collaboration include data capturing and the building of a database of farmers and cooperatives in Maize & Soy. While WASIL/WACOT will provide its current database of cooperatives, BIF will support the Group in designing a pre-assessment survey form to assess
the farmers’ socio-economic conditions and administering the same.

BIF will also provide the required technical assistance by providing the requisite Information Technology (IT) facilities, trained field staff to conduct the registration of the new farmers, while also conducting farm mapping and revalidation of the database provided by WASIL of farmers provided by WASIL continuous supportive supervision.

Also speaking at the signing, the Managing Director of WACOT Limited. Mr. Ujwalkanta Senapati disclosed that the WASIL–BIF collaboration will “see the emergence of new farmers’ associations and cooperatives, as well as the expansion of existing ones. The partnership will also facilitate the involvement and support of relevant public agencies and state governments in the mobilization and strengthening of these groups”.

Continuing, Mr. Senapati further disclosed that the agreement includes training and capacity building for the farmers which will be preceded with the process of assessing and identifying farmer training needs on the field, providing training resources and other training and development tools among others.

News

TGI GROUP DONATES PRODUCTS WORTH MILLIONS OF NAIRA TOBORNO STATE GOVERNMENT IN SUPPORT OF IDPs

Monday May 8, 2017

TGI Group, an international investment and holding company with diversified interests and investments in Africa, Middle East and Asia, has donated evaporated milk, pharmaceutical and agricultural products to Borno State government to support the humanitarian needs of internally displaced persons (IDP) in the state. The General Manager, Corporate Affairs of TGI Group, Mr. Sadiq Kassim […]

TGI Group, an international investment and holding company with diversified interests and investments in Africa, Middle East and Asia, has donated evaporated milk, pharmaceutical and agricultural products to Borno State government to support the humanitarian needs of internally displaced persons (IDP) in the state.

The General Manager, Corporate Affairs of TGI Group, Mr. Sadiq Kassim who officially presented the donation to the Director General (DG) of the Borno State Emergency Management Authority, Engr. Ahmed Satomi said
the donation was part of TGI’s efforts to alleviate the pains of persons in the camp and to bring succour to them.
TGI Group is the parent company of Chi Limited, WACOT Limited, CHI Pharmaceuticals Ltd, CHI Farms, CORMART, and many other companies in the country.

While commending the efforts of the Federal Government and the Military at curtailing the activities of insurgents in the region, Mr. Kassim said, “the products we are presenting today will undoubtedly go a long way in bringing relief to displaced children and families in Borno State and by extension, the North-East region”.

The products presented to the camp on behalf of the different companies in the TGI Group include a trailer load of evaporated milk for children and women by CHI Limited and various pharmaceutical products such as
routine OTC drugs, oral rehydration salts (ORS), and deworming tablets manufactured by CHI Pharmaceuticals Limited.

Mr. Kassim further revealed that another subsidiary of the Group, WACOT Limited donated 600 bags of maize to the camp in September 2016. “This gesture will help the Borno State government and officials of the IDP
camp to meet and improve on the food and primary health care needs of the displaced persons in the camp” Kassim added.

Receiving the products on behalf of Borno State government, Engr. Ahmed Satomi expressed delight at the gesture and appealed to other corporate bodies to emulate the TGI Group. Engr. Satomi further stated that the donations were timely, as there are plans to begin a deworming programme for the children in the camp.