The Central Bank of Nigeria, CBN is set to provide financial support to rice mills to boost paddy production for enhanced production across the country.
CBN Governor Godwin Emefiele, who made this known at the commissioning of Gerawa Rice Mill Limited in Kano, said the support will increase the milling capacity of rice nationwide.
He also advised farmers to get involved in paddy production, to guarantee sustainable supply of paddy to the mills and complement the supply from smallholder farmers through partnership with the Rice Farmers Association of Nigeria, RIFAN.
Emefiele also noted that prior to the launch of Anchor Borrower Programme in Nigeria, there were less than 10 functional rice mills with combined capacity of 350,000 metric tons.
In his remark, Governor Abdullahi Ganduje of Kano State said the state is surrounded by dams and rivers, which gave farmers opportunity of growing rice, tomato and other crops. He however assured that his administration would continue to provide an enabling environment that would boost farming and business activities in the state.
On his part, the Chairman, Gerawa Rice Mill Isa Gerawa, appreciated the Bank for their support to establish the company, adding that the mill would also go a long way at ensuring food security in the country.
