President Muhammadu Buhari-led federal government has approved the sum of N600 billion to take advantage of this year’s rainy season and enhance food production.
The government disclosed this in a report broadcast by NTA on Thursday evening, March 25.
The current administration explained that it released the sum in a bid to encourage food security despite challenges to security.
It was recently reported that rice farmers had showcased their ability to contribute to the National food production at an event to showcase the effectiveness of CBN’s anchor programme
According to the report, “Nigeria is expected to produce 60% of the country’s wheat demand under the CBN’s anchor borrowers programme.”
Recently, Techeconomy.ng reported that the CBN governor, Godwin Emefiele had underscored the need for all stakeholders to sustain current efforts championed by the Bank to galvanize agricultural production towards meeting the requirements of Nigeria’s growing population.
Emefiele gave the charge in Zauro, Kebbi State, on Tuesday, March 2, 2021, during the flag-off of the 2020 wet season harvest aggregation and 2020 dry season input distribution under the CBN-Rice Farmers’ Association of Nigeria (RIFAN) Anchor Borrowers’ Programme, as part of the fifth anniversary of the Anchor Borrowers’ Programme (ABP).
He noted that Nigeria was naturally blessed to meet her food requirement and had no reason to continually repeat mistakes of the past of neglecting agriculture.
“The rhetoric around neglect of previous years will remain part of our history and the best time to correct those mistakes is now and every stakeholder must contribute their quota to guarantee the realization of these national targets.”
“Covid-19 and the associated lockdowns globally have shown that nations only export out of their reserves. Let us start building our own reserves now,” he added.
The flag-off, which comes barely three months after the CBN showcased sky-high pyramids in Minna, Niger State, to highlight its intervention in the maize value chain, also featured the display of pyramids, which were rice harvests brought in by farmers in the state.