President Muhammadu Buhari will on Tuesday unveil a mega rice pyramids project in Abuja.
The rice project is a collaboration of the Central Bank of Nigeria (CBN) with the Rice Farmers Association of Nigeria (RIFAN).
According to information on the apex bank’s website, the rice pyramids, described as the largest in the world, were enabled by the CBN’s Anchor Borrowers Programme (ABP).
It stated that the ABP, since 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.
“The ABP has enabled 95 per cent 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 the challenges of flooding during the wet season, the COVID-19 pandemic and lingering insecurity in 2020 and 2021, failed to affect the farmers yield during the period.
It added that similar rice and maize pyramids had already 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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(NAN)
