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Promasidor Partners Rosedale Farms for Dairy Production
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Left: Chief Keith Richards, Managing Director, Promasidor Nigeria Limited receiving a birthday card from Professor Emevwo Biakolo, Dean, School of Media and Communication, Pan-Atlantic University, Lagos during a novelty charity match for Keith at 60 at the Campos Square mini stadium, Lagos Island recently. |
In line with President Goodluck Jonathan’s Agricultural Transformation Agenda, Promasidor Nigeria Limited; has signed a joint venture agreement with Rosedale Farms Limited boost the dairy sector of the Nigerian economy.
The partnership, according to the Managing Director, Promasidor Nigeria Limited, Chief Keith Richards at the press briefing at the weekend in Lagos, will foster more local integration and develop import substitution in the company’s production process.
Keith noted that, Promasidor is desirous of collaborating with Rosedale and the Reids in the business of production of value added fresh-milk based products, such as cheese, butter, yogurt and allied products.
He said, “Promasidor, Rosedale Farms and the Reids have agreed to pull resources together to incorporate the company known as ‘Diary Farmers Nigeria Limited’, adding that the agreement is another milestone for the company which will herald a new day in the dairy industry, the company shall contribute a substantial amount of funds as start-up capital for the business, processing equipment, drive marketing and distribution efforts as the leading shareholder while Rosedale Farms and the Reid’s have equal shares of the new business venture.
Also speaking, Mr. Irvin Reid, a representative of Rosedale Farms Limited said the farm’s future plan with its years of experience is strengthened by the investments of Godilogo Farms as well as the joint venture business partnership with a successful manufacturer such as Promasidor will help to scale up production and begin to achieve better results with higher commercial value.
He said, the joint venture to incorporate ‘Dairy Farmers (Nigeria) Limited’ to focus on fresh milk based products.
“Our commitment is to see that the investments in developing dairy farming in Nigeria will evolve into a truly successful commercial sector and provide employment, export and food for many families in Nigeria. The venture will not only provide food for the teeming population but also provide employment opportunities the unemployed youth in the country.” Reid said.
Reid further made known that, “as one of the 13 farmers in the Shonga Farms, our work has been rewarding with the experience gained farming in Nigeria over the last 9 years but not without its peculiar challenges. The agricultural outlook in Nigeria is still at its infancy and requires dedicated investments with long tenure planning to allow the investments yield its projected results.
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