Sunday, May 22, 2022

Buhari To Unveil CBN’s RIFAN Mega Rice Pyramids In Abuja

- Advertisement -
President Muhammadu Buhari will on Tuesday, unveil the Central Bank of Nigeria (CBN)’s mega Rice Pyramids in Abuja. A project which the CBN in collaboration with the Rice Farmers Association of Nigeria (RIFAN) have been working on over the last 3-years.

According to information on the CBN’s official website, it stated that the pyramids, which it described as the largest in the world, were enabled by the CBN’s Anchor Borrowers Programme (ABP).
READ ALSO: Price Of Cooking Gas Drops, As Supply Increases

It stated that the ABP, since its inauguration in November 2015, had increased the average yield of rice per hectare from 1.8 metric tonnes to five metric tonnes, while discouraging importation of the commodity.

The ABP has enabled 95 per cent reduction of Nigeria’s annual rice import bill from 1.5 billion dollars in 2015 to 18.5 million dollars.

” It has also created 12.8 million direct and indirect jobs across different value chains and food belts of the country, ” it said.

It added that similar rice and maize pyramids had been unveiled in states like Kebbi, Niger, Gombe, Ekiti, among others.

Meanwhile, some stakeholders have commended the apex bank for the ABP initiative and support to farmers.

A farmer, Mr Abubakar Alli, said that the idea of the ABP, and CBN supporting state governments to boost food production had been encouraging.

Outbrain Advertisements

”I must commend the CBN for its support through the ABP, toward rice production in Nigeria and supporting different state governments to boost production,” he said.

CBN Rice Pyramid ProjectAlso commending the initiative, Chinonso Elendu, urged the authorities to ensure that farmers were safe in their farms.
READ ALSO: Traitors, Saboteurs Met And Told Buhari Not To Release Nnamdi Kanu – IPOB

“This is a very good move, but we need to make sure our farmers are safe and crops should be affordable to everyone,” he said.

According to Hussein Ibrahim, the unveiling of rice pyramids across the country, which indicates improved capacity to cultivate rice, should also make it cheap and affordable to the common man.

NAN reports the Abuja mega rice pyramids are located at the Abuja Chamber of Commerce and Industry, Trade Fair Complex, Abuja.

Also Read:  Liverpool 4 Burnley 2: Klopp's Men Thump Clarets To Keep Pressure On Leaders Manchester City

Watch our trending video of the day below;

Photo Credit: Getty

- Advertisement -

Related Articles

- Advertisement -

Leave a Reply

Stay Connected

- Advertisement -

Latest Articles