President Muhammadu Buhari will on Tuesday, unveil the Central Bank of Nigeria (CBN) Mega Rice Pyramids in Abuja; a collaborative program of the CBN with Rice Farmers Association of Nigeria (RIFAN).
The Apex bank had on its website described the rice pyramids as the largest in the world, and were enabled by the CBN’s Anchor Borrowers Programme (ABP).
It stated that the Anchor Borrowers’ Program, since its inauguration in November 2015, had increased the average yield of rice per hectare from 1.8 metric tonnes to five metric tonnes, while discouraging importation of the commodity.
“The ABP has enabled 95 percent reduction of Nigeria’s annual rice import bill from 1.5 billion dollars in 2015 to 18.5 million dollars.
” It has also created 12.8 million direct and indirect jobs across different value chains and food belts of the country, ” it said.
The CBN stated that, despite the challenges of flooding during the wet season, the COVID-19 pandemic and lingering insecurity in 2020 and 2021, it was still able to work with other stakeholders to inspire farmers to reap bountiful harvests.
It added that similar rice and maize pyramids had been unveiled in states like Kebbi, Niger, Gombe, Ekiti, among others.
The Abuja mega rice pyramids are located at the Abuja Chamber of Commerce and Industry, Trade Fair Complex, Abuja.
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