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Central Bank to fund rice cultivation, processing in BUK

Web Editor | ConsumerConnect

Fascinated by the resilience and commitment of Bayero University, Kano (BUK), to complement the effort of the Federal Government in boosting food production in the country, the Central Bank of Nigeria (CBN) has indicated interest in funding rice production and processing in the University.

Information published on the University’s Web site Wednesday, January 8, 2020, indicates that the Central Bank and the BUK Management have initiated talks on how to develop a comprehensive blue print to fund the project aimed at increasing rice production.

The tertiary institution of learning Tuesday, January 7, 2020, was said to have interacted with the officials of the Central Bank of Nigeria on how to develop a proposal that would lead to mass production and processing of rice.

ConsumerConnect learnt that Mr. Hassan Tom, Head of Development Finance at CBN Kano Office, affirmed that the move to partner with BUK in rice production was part of Anchor Borrowers’ Programme (ABP) President Buhari-led Administration has introduced to increase agricultural production in the country.

Mr. Hassan Tom stated that the recent development by Bayero University in rice production and processing in its rice mill has prompted the CBN to intervene in the area.

The objective is, he said, is to jointly come up with a proposal that will boost production and processing.

He said the collaboration would be the first of its kind in the country in which an academic institution would venture into rice production with the support of the CBN.

Prof. Muhammad Yahuza Bello, Vice-Chancellor of BUK, in his remark, assured the CBN that the University would consider the offer with utmost priority.

The University would set up committee that will look into it as soon as possible, Prof. Bello added.

Recall that lately, the Department of Agricultural Economic and Extension of the University began rice processing and packaging, which attracted the attention of the business enterprises and the general public.

Bayero University will be the first university in Nigeria to blaze the trail in rice production and processing in commercial quantities.

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