The Central Bank of Nigeria, CBN, has revealed that the price of rice in the country is gradually reducing due to massive production embarked by several states.
CBN Acting Director of Corporate Communications Mr Isaac Okorafo said farmers are keying into the Anchor Borrower’s Programme of the apex bank, and have embarked on massive cultivation of rice since July in Kebbi, Jigawa, Ebonyi, Sokoto and Cross River states.
“We should eat Nigerian rice provided for by the CBN Anchor Programme; 50 Kg of local rice is now N8, 000 in Ebonyi. Already, the Abia Government has ordered rice from Ebonyi for Christmas,’’ he said.
If the current tempo is maintained, Nigeria will achieve self sustainability by 2017 and will start exporting the commodity by the end of 2017.