President Muhammadu Buhari will on Tuesday, 18th January 2022 unveil one million bags of rice paddy stacked as pyramids in Abuja.

Considered to be the biggest of its type in Africa, the pyramids are located on the grounds of the Abuja Chamber of Commerce and Industries (ACCI) on Airport Road.

The rice pyramids were built with 1 million bags of rice paddy planted and harvested from states across the country under the Anchor Borrowers’ Programme (ABP

The bags of rice paddy that formed the pyramids were recovered from farmers in lieu of cash to pay back for the loans they collected under the ABP.

A worker of the Central Bank of Nigeria (CBN), who spoke in confidence, said: “The paddy recovery is an ongoing effort as harvests are never concluded at the same time.

“Aggregated paddy for the pyramids across the country is a fraction of the recovered paddies. The ones used at the unveiling represent about 25 per cent of the loan amount.”

The CBN, he explained, “is marching rice millers with the Rice Farmers Association of Nigeria (RIFAN) to off-take the paddy mill and supply the Nigerian markets”.

He added: “We have set up machineries to prevent hoarding and ensure the milled rice is sold to Nigerians.”
CBN Governor Godwin Emefiele recently announced that “between September and October 2021, under the Anchor Borrowers’ Programme (ABP), the CBN disbursed N43.19 billion to support the cultivation of over 250,000 hectares of maize, sorghum, soya beans and rice during the 2021 dry season”.
The Anchor Borrowers’ Programme (ABP) of the CBN was launched in November 2015 to bring relief to farmers and impact the value chain of different crops in Nigeria.



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