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, said across Nigeria, 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.
“I am aware that the bags of paddy will be moving straight from here to rice milling plants across Nigeria, which leads to the release of processed rice to the markets by the rice millers. The measure will aid our efforts at reducing the price of rice in Nigeria.
“Before this administration launched the ABP, there were only 15 standard rice mills in Nigeria. As at today, we have over 50 standard and integrated rice mills creating jobs and reducing unemployment. We expect additional significant output when two new mills are started in Lagos and Katsina,’’ 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.
“Fellow Nigerians, our gathering here today, is no doubt a testament to the fact that the Anchor Borrowers’ Programme is working. Indeed, these sky-high pyramids which we are gathered here to commission are part of our commitment at achieving national food security and economic diversification through home-grown policies targeted at securing food for all Nigerians.
“As a critical policy of the government, the Anchor Borrowers’ Programme is expected to catalyze the agricultural productive base of the nation, which is a major part of our economic plan to uplift the economy, create jobs, reduce reliance on imported food and industrial raw materials, and conserve foreign exchange.
“This has resulted in bridging our rice consumption gap, a significant reduction in rice imports, and saved us foreign exchange,’’ he added.
President Buhari presented awards to Governors Kayode Fayemi, Ekiti State, Alhaji Atiku Bagudu, Kebbi State, Prof. Ben Ayade, Cross River State, David Umahi, Ebonyi State, Alhaji Abubakar Badaru, Jigawa State, Godwin Emefiele, CBN Governor, Alhaji Aminu Goronyo, President of RIFAN and Yila Yusuf, Director, Development Finance, CBN.
