Fidelity bank banner Bayelsa State banner
CBN optimistic Anchor Borrowers’ Programme will enhance rice sufficiency

By News Express on 07/11/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,359


The Central Bank of Nigeria Governor, Mr Godwin Emefiele, says in less than five years, Nigeria would become self-sufficient in rice production, going by the actions and on-going support of the government to farmers and Nigerians interested in farming.

Mr Emefiele who led the Presidential Task Force on rice and wheat production to Cross River state for an assessment tour, said three billion out of the 26 billion set aside for the anchor borrowers’ programme has been given to Cross River where up to 78,000 farmers are expected to benefit from the rice production programme.

The State Governor, Senator Ben Ayade said Cross River has set aside 18,000 square km of land for rice farming, with 5,800 participating farmers and another 12,000 set to join in the next planting season.

He therefore expressed optimism about the state’s rice yield in the near future.

Although the CBN Chief believes that forex restriction on rice importation will boost Nigeria’s chances of rice sufficiency before 2020, chairman of the Presidential Task Force on rice and wheat, Senator Atiku Bagudu, expects significant sufficiency by 2017.

Nigeria consumes about 6 million metric tonnes of rice per annum but produces less than half of that.

There are currently 40 integrated rice mills in the country, which are expected to process up to 5 metric tonnes of rice per hour.

Meanwhile, the country has 36 silos targeted to store up to 100 million metric tonnes of rice.

Mr Emefiele insists that the nation’s scarce foreign reserve would not be used to import any agricultural product the nation has in abundance.

He emphasised that the bank is set to support anyone ready to farm rice, cassava, palm, and other agricultural products to feed the nation and create export opportunities. (Channels TV)

•Photo shows CBN Gov. Emefiele.

Source News Express

Posted 07/11/2016 05:43:44 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Military operation and the persecution of innocent Muslims;...

Omisore picks SDP guber form as party opens...

Norway gives US$11.5m for female Boko Haram victims...

Newswatch: Jimoh Ibrahim rejects verdict, heads for appeal...

Research shows working long hours may increase stroke...

Rescued Chibok girl to meet President Buhari

Workers trapped as Christ Chosen Church building collapses...

Plateau court official impregnates housemaid, strangles pregnant wife...

Tragedy as train crushes motorists on fuel queue...

Today’s weather: Expect sunny and hazy, clouds in...

Coalition blames sabotage for Queens College deaths

Katsina: Governor Masari sets up committees to probe...

 

Latest News Ebonyi to build International Airport Man kills sick brother to avoid paying medical bills INEC wants N6bn to feed policemen during 2019 polls Arewa youths back Saraki, cautions Oshiomhole on utterances Why we suspended consular services in Abuja — U.S. Embassy Police capture 20 suspected Zamfra bandits, recover arms SERAP sues NYSC over failure to publish Kemi Adeosun’s ‘exemption certificate’ 25 students killed in bomb blast Reps, INEC meet over 2019 general elections FEC approves N15.73 billion road project in Enugu El-Rufa’i presents N155bn 2019 budget for Kaduna Fake news aggravated recent National Assembly crisis — Minister

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (377,041 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (366,251 views) Shameless Genevieve Nnaji exposes breasts in public (295,937 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (241,596 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (222,297 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (216,957 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,350 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (174,529 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,510 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,047 views) Lagos plane crash: Journalist releases victims’ names (152,532 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (142,884 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,451) Business Verdict (48) Columnists (908) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (527) Features (632) Global Business Monitor (294) International (2,268) Interview (161) Live Commentary (28) Love Matters (134) News (38,028) Opinion (1,057) Pidgin (11) Politics (6,045) Religion (816) Sports (1,645) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Liverpool Destroying West Ham 4-0 - Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement