Nutrition Security: CBN applauds farmers for activating ABP, launch of mega rice pyramids

*Godwin Emefiele, Governor of the Central Bank of Nigeria, has extolled the courage and resilience of the smallholder farmers for achieving what he describes as the ‘single largest rice pyramids ever assembled in Nigeria’s history’

Isola Moses | ConsumerConnect

Following the success recorded in the implementation of the Bank’s Anchor Borrowers Programme (ABP) since 2015, and the launch of the world’s largest rice pyramids Tuesday, January 18, 2022, in the West African country, the Central Bank of Nigeria (CBN) has commended the courage, resilience of the smallholder farmers (SHFs) on achieving the “single largest rice pyramid ever assembled in Nigeria’s history.”

ConsumerConnect reports Mr. Godwin Emefiele, Governor of CBN, gave the commendation Tuesday while making his presentation at the unveiling of a million bags of paddy rice stacked as 15 pyramids in Abuja, FCT.

President Muhammadu Buhari (2nd left); Mr. Emefiele, Governor of CBN (middle), and other dignitaries inspecting RIFAN products at the unveiling of rice pyramids in Abuja 

The huge rice pyramids President Muhammadu Buhari launched were said to have represented aggregated paddy rice farmers submitted as “repayment of loans” by the Rice Farmers Association of Nigeria (RIFAN), under the 2020 dry season and 2021 wet seasons.

Mr. Emefiele said that the feat the rice farmers attained was in line with the current administration’s promise to provide food security in the country.

The CBN Chief stated despite the obvious challenges of the past few years, including insurgency, banditry, kidnappings across the country, the farmers have remained resilient while producing foods beyond just self-sufficiency for Nigerians.

According to him, the historic event also symbolises the country’s smallholder farmers’ commitment to loan repayment through produce submission, and ultimately, efforts at ensuring the sustainability of the Anchor Borrowers Programme.

Recall the Bankers’ Bank activated the ABP November 2015, in Kebbi State, in a strategic move to bring relief to farmers, and impact the value chain of different crops in the country.

The programme has also improved the National output to 9.5million metric tonnes in quality rice, thus making Nigeria the largest food producer in Africa, besides saving foreign exchange (Forex) for the country.