CBN, RIFAN Partner to Crash Price of Locally Produced Rice

  • 12m Farmers to Benefit From CBN Anchor Borrowers programme


From Ibraheem Mainasara, Kaduna

The Apex Bank, Central Bank of Nigeria (CBN) and Rice Farmers Association of Nigeria (RIFAN) have set to bring further down the price of locally produced rice through a CBN modified Anchor Borrowers Programme.


This was disclosed to Journalists in Kaduna, Thursday by the President of the Rice Farmers Association of Nigeria, Alhaji Aminu Goronyo during a sensitisation programme organised for Rice Farmers on the requirement of the new phase of CBN programme.


According to him, the modified Anchor Borrowers Programme would strengthen efforts to attain bumper rice harvest at the end of the 2017 wet season, adding that the bumper harvest would lead to a crash in the price of paddy rice in the country in a matter of days.


Goronyo also told newsmen that more than 12 million rice farmers will participate in this year CBN’s Anchor Borrowers Programme.


“We are on tour of the whole country to interact with RIFAN members on the new developments in the Anchor Borrowers Programme. “The programme was being run by so many stakeholders, causing lots of setbacks in loan repayment. “The CBN has, therefore, modified the programme, particularly with 2017 dry season rice production,’’ he said.


Goronyo said that the CBN had modified the Anchor Borrowers Programme in a way that would enable it to work directly with RIFAN to ensure timely disbursement and full repayment of loans.


He said in an attempt to force down the price of locally produced rice, “Over 12 million rice farmers from 32 states will benefit from the loan under the programme. We, therefore, asked all our national executive officers to go back to their states and sensitise RIFAN members to the new developments, as the 2017 dry season rice farming will soon commence.


“The Anchor Borrowers Programme is the best thing that has ever happened to rice farmers in this country. “We have never received the kind of support we got in the 2016 dry season rice production cycle from any government in my over 30 year-experience as a rice farmer. As RIFAN members, we will ensure that every farmer repay his loan and as at when due.


The RIFAN president, however, advised the Federal Government to outlaw rice importation and check rice smuggling.


“The quantity of smuggled rice into the country is unquantifiable and this must be checked, so as to ensure the country’s attainment of rice sufficiency through local production. If the trend continues, rice farmers may not be able to repay their loans but things would definitely be different if they have good patronage; if foreign rice saturates our markets, where will the farmers get the money to repay their loans? He asked.


Goronyo said a Memorandum of Understanding has been signed with the Nigerian Customs Service to pay more attention on the issue of rice smuggling into the country.


“We are drawing the attention of the customs boss, retired Col. Hammed Ali, to look into this issue. We recently signed an MoU with the Customs for us to work together and we hope that something good will come out of it,’’ he stated.


Goronyo said that RIFAN had more than one million hectares of rice farmlands under cultivation, while more rice farmers were joining the association ahead of the dry season rice production.




About Time Nigeria

Abdul Rahman Aliagan is an Abuja-based seasoned Journalist who has spanned over a decade in the profession. My flare for Investigation has earned me a niche and more on the profession. Presently, I am the National Publicity Secretary, Guide of Investigative Journalists, an umbrella body for the curious journalists in Nigeria. I am a student of History from the Better By Far University, University of Ilorin, Ilorin, Kwara State, Nigeria, I was born in late 70s. I started my Journalistic career with The Herald Newspaper, in 1997 and moved my career to Funtua, Katsina State as a Media Assistant to a Non-Governmental Organization, Pan-African Development Education and Advocacy Programme (PADEAP) where I later joined the service of Newspeg Newspaper as a Senior Correspondent and became the pioneer Editor as it transformed to Magazine. However, close to two decades uninterrupted experiences gave birth to Time Nigeria Magazine that is setting Economic and political pace for the most populated country in African continent, Nigeria.


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