Buhari to unveil mega rice pyramids in Abuja – CBN

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By Kadiri Abdulrahman

President Muhammadu Buhari will on Tuesday unveil the Central Bank of Nigeria (CBN) huge Rice Pyramids in Abuja.

The News Agency of Nigeria (NAN) reports that the mega rice pyramids project is a collaboration of the Central Bank of Nigeria (CBN) with Rice Farmers Association of Nigeria (RIFAN).

Information obtained from the apex bank’s official website stated that the pyramids, which it described as the largest in the world, were enabled by the its 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 of the commodity.

“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…



Source: News Agency of Nigeria