The Nigerian President, General Muhammadu Buhari, retired, has commended the Central Bank of Nigeria for its efforts at reviving the Nigerian Commodity Exchange following approval to do so, report ITREALMS.
Also he said, this is anticipated to assist farmers to have ready buyers of their produce, and resolve the current logistical challenge of moving their produce from farm to markets.
“Let me also commend the Governor and staff of the Central Bank of Nigeria, as well as the leadership of the Rice Farmers Association of Nigeria for the successful delivery of these pyramids, which hopefully is just the first of many that will be unveiled this year across Nigeria,’’ the President said.
Equally speaking, the CBN Governor, Godwin Emefiele, commended President Buhari’s outstanding resolve on food security for the country, unveiling the single largest rice pyramid in history,
The CBN Governor, pointed out that the financial regulatory body had commenced the wheat value chain, which produces five to six million tonnes each year.
President of RIFAN, Alhaji Aminu Goronyo, said more than 99 per cent of the paddy rice for the year was already with farmers across the nation, while the bags in 13 pyramids will be sold to further ease and augment production.
He further told participants at the official commissioning ceremony of the Central Bank of Nigeria (CBN)/Rice Farmers Association of Nigeria (RIFAN) Rice Paddy Pyramids at the Abuja International Trade Fair Complex, that rice production in Nigeria has increased to over 7.5 million metric tons annually.
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