President Muhammadu Buhari says Nigeria is on its way to self sufficiency in food production.
The President stated this at the unveiling of Rice Pyramids in the FCT financed by the Central Bank of Nigeria under the Anchor Borrowers Program.
He said the Anchor Borrowers Program had supported his Government’s commitment to economic diversification as it had granted loans to about four point right million smallholder farmers for food production.
President Buhari said Nigeria now produces seven point five million metric tons of rice annually from four million metric tons in 2015.
In his presentation, the Governor of the CBN, Mr. Godwin Emefiele said the display of the Rice pyramids was a celebration of farmers who had displayed doggedness amid daunting challenges including insecurity.
He said a similar feat would soon be recorded in wheat production as it had moved to transform the value chain.