Buhari Promises Nigerians Food Prices will Fall

The president of the federal republic of Nigeria, yesterday urged citizens not to worry and assured Nigerians that with growing food production level, large scale rice farming will definitely reduce price of rice and other food items.

This information was disclosed during the  Central Bank of Nigeria (CBN)/Rice Farmers Association of Nigeria (RIFAN) Rice Paddy Pyramids in Abuja.

President Buhari’s assurance to the people of Nigeria on cheaper food items comes a day after he awarded CBN governor Godwin Emefiele for their immense contribution towards agricultural development In the country. He further awarded five governors ( Governors of Ekiti, Mr. Kayode Fayemi; Kebbi, Alhaji Atiku Bagudu; Cross River, Prof. Ben Ayade; Ebonyi, Mr. David Umahi, and Jigawa, Alhaji Abubakar Badaru.) for their efforts in diversifying the economy through agriculture.

Words from Buhari: “Today rice production in Nigeria has increased to over 7.5 million metric tons annually. Prior to the introduction of APB, the average production in Nigeria between 1999 to 2015 was less than four metric tons annually.

“I am aware that the bags of paddy will be moving straight from here to rice milling plants across Nigeria, which lead to the release of processed rice to the markets by the rice millers. The measure will aid our efforts at reducing the price of rice in Nigeria.

“Before this administration launched the ABP, there were only 15 standard Rice mills in Nigeria. As at today, we have over 50 Standard and integrated Rice mills creating jobs and reducing unemployment. We expect additional significant output when two new mills are started in Lagos and Katsina,”

Buhari also stated that the launching of the rice pyramid is an indicator for Nigeria’s progress towards independence in terms of food production.

“It is my desired hope and expectation that other agricultural commodity associations that are yet to participate under the Anchor Borrowers’ Programme will emulate the Rice Farmers Association of Nigeria in supporting our administration’s drive for food self-sufficiency.”

The president went further to compliment the Central Bank of Nigeria on its resilience in resuscitating the Nigerian Commodity Exchange. he hopes that farmers will have available buyers for their produce and tackle logistical challenges on the movement of goods.

His words “Let me also commend the Governor and staff of the Central Bank of Nigeria, as well as the leadership of the Rice Farmers Association of Nigeria for the successful delivery of these pyramids, which hopefully is just the first of many that will be unveiled this year across Nigeria,” .