President Muhammadu Buhari Tuesday in Abuja urged Nigerians to exercise some patience as the growing food production in the country, especially expansion in rice farming, will eventually bring down prices of food, making it more affordable for all.
The President, who spoke at the official commissioning ceremony of Central Bank of Nigeria (CBN)/Rice Farmers Association of Nigeria (RIFAN) Rice Paddy Pyramids at the Abuja International Trade Fair Complex.
According to a statement by presidential spokesman, Femi Adesina, the President said more than 4.8 million smallholder farmers had been supported by Anchor Borrowers’ Programme, with increase in production of 23 agricultural commodities including maize, rice, oil palm, cocoa, cotton, cassava, tomato and livestock.
“Today rice production in Nigeria has increased to over 7.5 million metric tons annually. Prior to the introduction of Anchor Borrowers Programme (APB), the average production in Nigeria between 1999 to 2015 was less than 4 metric tons annually”, he said.
The President said the large margins in the business of rice had also encouraged more people to show interest in investing in agribusiness.
He noted that, about three years ago, the first set of sky-high pyramids of rice harvests were showcased in Argungu, Kebbi State, which was followed by another set in Minna, Niger State about a year ago and barely three months later in Zauro, Kebbi State, rice pyramids were, again, unveiled.QA
President Buhari said in May 2021, the CBN unveiled the first rice pyramids in the South-West of Nigeria in Ado Ekiti, Ekiti State.
The President commended the Central Bank of Nigeria for its efforts at resuscitating the Nigerian Commodity Exchange following approval to do so.
This, he said, had been done in the hope that farmers can have ready buyers of their produce, thereby resolving the current logistical challenge of moving their produce from farm to markets.
President of RIFAN, Alhaji Aminu Goronyo, said more than 99 percent of the paddy rice for the year was already with farmers across the nation, while the bags in 13 pyramids will be sold to further ease and augment production.
President Buhari presented awards to Governors Kayode Fayemi, Ekiti State; Atiku Bagudu, Kebbi State; Prof. Ben Ayade, Cross River State; David Umahi, Ebonyi State; Abubakar Badaru, Jigawa State; Godwin Emefiele, CBN Governor; Aminu Goronyo, President of RIFAN and Yila Yusuf, Director, Development Finance, CBN.
