CBN in partner with RIFAN to sell 9m rice paddy to millers reduces the Rapid increase in food price across the country

 CBN partners RIFAN to sell 9m rice paddy to millers




The Central Bank of Nigeria in partnership with the Rice Farmers Association of Nigeria has flagged-off the sale of 9million metric tonnes of rice paddy to millers to make rice affordable.

RIFAN’s President, Alhaji Aminu Goronyo, who disclosed this to journalists in Kaduna while flagging-off the distribution of fertilisers and inputs to rice farmers for this year’s wet season farming, said: “Nigeria is now self-sufficient in rice and almost ready for exportation with annual production of 9 million metric tonnes of rice.”


Goronyo, who said further that the flag-off was directed by President Muhammadu Buhari through the CBN to crash the rising prices of foodstuff, added that the feat was achievable only due to the courage, commitment and patriotism of rice farmers who remained in the farm despite the security challenges they faced in the farms.

He said the paddy rice was being sold in16 states at a subsidised rate of N190 per kilogramme to millers to enable them to mill and sell to consumers at affordable prices.

“We are here to flag-off the sale of paddy at a subsidised rate to rice millers as directed by President Muhammadu Buhari through the Central Bank Governor, Mr. Godwin Emefiele. You can see the amount of paddy that we have on ground, and what you are seeing here is going on in 16 states of the federation all in an effort to provide food for Nigerians.

“Before the coming of the President Muhammadu Buhari’s administration in 2015, we used to produce just about two million metric tonnes of paddy annually, but today, we can boast of nine million metric tons annually. There is a clear difference and we can now boldly say that Nigeria is self-sufficient in rice,” he said.


Flagging-off the programme, the CBN governor, who was represented by the Kaduna branch controller, Ahmad Muhammad Wali, said the apex bank had been supporting a lot of agricultural initiatives to boost agricultural production in the country

Agajahub publishers

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