FaLGates, a renowned Nigerian agricultural firm with an emphasis on rice cultivation and farming, was founded by Abubakar Sadiq Mohammed Falalu.
Following his studies, he used $10,000 of his savings to purchase a milling machine from China. He then applied for a loan from Nigeria’s Bank of Industry (BOI), but was rejected because he only met six of the 26 criteria.
To help him keep the firm going, he turned to his family and friends. Later, he began buying produce from paddy rice farmers on credit, processing it, and splitting the proceeds with them.
FaLGates Rice Mill currently employs more than 50 employees in Kaduna and more than 150 individuals at their subsidiary farms spread out over Nigeria’s Kebbi and Niger States. The business had a $450,000 revenue in 2017 and can produce approximately 5,000 metric tons of different rice products annually at a capacity of 15 tons per day.
A graduate of Swinburne University of Technology in Australia with a degree in computer science and software engineering, Sadiq also earned a master’s degree in entrepreneurship and innovation from the University of Nottingham Ningbo in China in 2014, graduating with honors.
At the Keffi Government Council in Nasarawa, Nigeria, he completed his NYSC.
He was an internal auditor at Teasy Mobile International from April 2013 to June 2013, and a TeDx speaker in December 2013.
Sadiq is one of the emerging young African rice farmers in Nigeria. He puts in a lot of effort to keep funding economic development projects that benefit the nation’s youth.
On Forbes’ list of under-30 entrepreneurs in 2018, he was named as one of Africa’s most promising young businesspeople.
During the month of October 2022, President Muhammadu Buhari, GCFR, presented him with the Member of the Order of the Niger (MON) Award.
In light of the fact that Nigeria imports more than $2 billion worth of rice each year and consumes around seven million metric tonnes of it, Sadiq spotted a business potential.
He claimed that he had always had a strong interest in farming. “I always had an interest in farming, I remember writing in our high school’s yearbook under future ambition that I wanted to be a farmer,” he said.