CBN Opens Rice Milling Factory In Kano State

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CBN Opens Rice Milling Factory In Kano State
CBN Opens Rice Milling Factory In Kano State

The Central Bank of Nigeria (CBN) has unveiled a state-of-the-art rice milling factory with a capacity of 420 metric tons per day in Kano State.

 

Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), disclosed this while speaking at the inauguration of the Gerewa Rice Mill, saying the factory’s construction was consistent with the federal government’s commitment to ensuring the country’s food security.

 

He requested that rice mill operators participate in paddy cultivation as part of a collaboration with the Nigerian Rice Farmers Association to ensure a long-term supply (RIFAN).

 

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According to Emefiele, the CBN focuses on private sector agricultural development and provides millers with long-term financing options for commercial farms. “The private sector-led Accelerated Agriculture Development Scheme provides millers with long-term financing options to finance commercial farms, land development, irrigation facilities, and other agricultural infrastructure that will enhance the production plan,” he said.

 

According to him, the quality of milled Nigerian rice is comparable to rice produced elsewhere in the world. “We need to become more patriotic as Nigerians and embrace Mr. President’s mantra of producing what we eat and eating what we grow,” he said.

 

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Emefiele observed that prior to the start of the Anchor Borrowers’ Program in Nigeria, the country had less than ten operational rice milling plants with a combined capacity of 350,000 metric tons.

 

“As of today, there are over 60 integrated mills with a combined capacity of more than three million metric tons, with about ten more mills scheduled to be commissioned this year,” he said.