Emefiele speaks as farmers launch ‘single largest rice pyramid’ in Abuja

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has lauded the courage and resilience of the smallholder farmers for achieving the “single largest rice pyramid ever assembled in Nigeria’s history.”

Emefiele said this on Tuesday during the unveiling of bags of rice paddy numbering one million stacked as pyramids in Abuja, the nation’s capital.

According to him, it is in line with the current administration’s promise to provide food security in the country.

Emefiele said, inspite of the challenges of the past few years including insurgency, banditry etc, the farmers remained resilient, producing beyond just self-sufficiency.

The mega pyramids being launched represents aggregated paddy rice submitted as repayment of loans by the Rice Farmers Association of Nigeria (RIFAN) under the 2020 dry season and 2021 wet seasons.

He said further that the event also symbolises the efforts made by farmers to commit to loan repayment through produce submission and ultimately ensure the sustainability of the Programme.

The Anchor Borrower’s Programme of the CBN was launched in November 2015, first in Kebbi state, to bring relief to farmers and impact the value chain of different crops in Nigeria.

The program has also improved the National output to 9.5million metric tonnes in quality rice, making Nigeria the largest food producer in Africa and also Saving Nigeria Foreign exchange and preserving.

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