‘Rice Mills of Nigeria’ has been 5 years in the making, and was born from the merger of ARN Mills of Nigeria and its sister company African Redcrest Nigeria (ARN), both of which are 100% owned by our Singapore-based holding company Sinagy PTE LTD (‘Sinagy’).
The founders of Rice Mills of Nigeria realised the critical importance of rice as a strategic food supply in Nigeria, but also globally. Given our knowledge and experience of Nigeria and other emerging markets, combined with powerful local partnerships as well as a track record in successfully launching new businesses with profitable exits, the opportunity to invest in, and develop, Nigeria’s rice sector made total sense.
‘200 Million Nigerians consume 7 million tonnes of rice every year. Nigeria only produces 2.5 million tonnes a year. By 2050, there will be 700 million Nigerians.’
MEET THE TEAM
Owned by Singaporean holding company Sinagy PTE Ltd, (see ‘Corporate Structure’ section below) Rice Mills of Nigeria is led by a team of seasoned executives, with 120 years’ combined experience & track record in corporate and investment banking, venture capital, tech/media, international trade and life sciences.
Stephen, an Oxford trained economist, is most recently the CEO and co-founder of Rice Exchange, a digital platform leveraging Blockchain to optimise global rice trade. Stephen has a background in finance and emerging markets. He worked as a Chief Andean Economist and then Chief Bank Analyst for Banco Santander in New York. In 2004 he founded a venture capital firm in Shanghai that focused on clean energy making two successful IPO exits (London Stock Exchange; NASDAQ)
Hakeem has over 20 years’ experience in international trade, and cross-border operational expertise. In the Nigerian Army, he served as a Lieutenant in the 1993 UNPROFOR peace-keeping mission in ex-Yugoslavia. He is also the president of Yoruba community Socio-cultural association ‘Oodua Progressive Union’ in France. As a native of Ondo State, Hakeem has extensive connections across the local political establishment, business and community leaders, as well as with the rural communities where rice is grown.
Director of Corporate Affairs & CSR
A Political Science graduate from Manchester University and 2004 intern for Hillary Clinton, she has been operating in Nigeria since 2008, first in the media sector, and subsequently as the first CEO of the Lagos Court Arbitration. More recently, Megha co-founded a network marketing company empowering thousands of Nigerian women, and she also consults small and medium enterprises on corporate restructuring.
Marketing and Communications Director
Olugbenga has over 20 years experience in food and agricultural value chain development and management. He founded Nigeria Rice Revolution, a platform advocating for Nigeria’s rice production self-sufficiency, and for Nigeria’s rice export. Very active in the agricultural social media space, Gbenga also has front-line experience launching a rice processing company in collaboration with the World Bank.
MAYOWA DAVID JACOB
Chief Miller, Rice Mills of Nigeria
A Chemical and Process engineer from Ahmadu Bello University, Mayowa is an accomplished production Manager with 15 years’ experience working for leading firms such as Nigerian Breweries, Alkem Nigeria Ltd. and Flour Mills of Nigeria PLC.
NEWS & UPDATES
18th July 2020 – Rice Paddy Supply and Off-take Agreement of 600t signed with private group.