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Anchor Borrowers: Buhari celebrates return of rice pyramid in Nigeria

Anchor Borrowers: Buhari celebrates return of rice pyramid in Nigeria

President Muhammadu Buhari on Thursday commended the Central Bank of Nigeria (CBN) for supporting the agricultural resuscitation plan of the federal government which has led to the return and display of rice pyramids in the country.

According to the President, the return of pyramids in Nigeria is a magnificent achievement that has been recorded by CBN in collaboration with Rice Farmers Association (RIFAN) and other economic agents.

The president gave the commendation at the commemoration of the National Rice Festival and Flag-off of the 2020/2021 dry season rice cultivation in Gombe.

Buhari who was represented by the Governor of Kebbi State Abubakar Atiku Bagudu, who is also the Vice-Chairman of the National Food Security Council stated that “This is an important achievement and acknowledgment by the CBN equally this is a great testament in the resilient, energy and the responsiveness of the Nigerian farmers under RIFAN”.

He said: “this is the third event that the CBN and RIFAN have hosted across the country, starting with the one in Niger state and the one in Kebbi state and today here in Gombe and others are lined up”.

While appreciating rice millers and a host of other service providers including import providers, transporters, security agencies as well as other economy agents for supporting the anchor borrowers program, the president said: “What we see today is a product of clear-sighted policy and a careful and diligent execution by institutions of states and other actors”.

He further announced that the federal government is committed to injecting N600 billion into the agricultural sector of the nation, hence he called on actors in the industry to mobilize those who wish and most participate so as to create a demanding economy where groups or individuals that are capable are supported.

On his part the CBN Governor, Mr. Godwin Emefiele revealed that the Thursday’s launching of the North-east zonal rice pyramid in Gombe was a product of the partnership between CBN and RIFAN under the 2020 wet season farming.

He stated that the partnership financed 221, 000 farmers to cultivate 221, 40 hectares of land in 22 states. “The North-east zone with 44, 870 farmers that cultivated 44, 870 hectares, representing 20 percent of the total farmers and herders finance incentives”.

“The massive pyramid being launch today is the harvest from this various group and they are a validation of this program’s success. We choose a model where rather than collecting cash as repayment we decided that we shall be the off-takers at the agric prices from our smallholders’ rice farmers by this unveiling their various loans have been repaid,” Mr. Emefiele further stated.

While commending President Buhari for what he called a display of leadership in the nation’s match towards food sufficiency, Governor Muhammadu Inuwa Yahaya of Gombe State, stated that if not for the policy direction of the President and the sound support of the CBN, the heaps of rice pyramids wouldn’t have been on display.

Anchor Borrowers: Buhari celebrates return of rice pyramid in Nigeria

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