Buhari tells senate to confirm reappointment of four CBN directors
Buhari, Nigeria's president

President Muhammadu Buhari will on Tuesday, unveil the Central Bank of Nigeria (CBN) huge Rice Pyramids, a major outcome of the Anchor Borrowers Programme (ABP) in Abuja.

According to The News Agency of Nigeria (NAN), the mega rice pyramids project is a collaboration of the CBN with Rice Farmers Association of Nigeria (RIFAN).

Information obtained from the apex bank’s official website stated that the pyramids, which it described as the largest in the world, were enabled by the CBN’s ABP.

It stated that the ABP, since inauguration in November, 2015, had increased the average yield of rice per hectare from 1.8 metric tonnes to five metric tonnes, while discouraging importation of the commodity.

“The ABP has enabled 95 per cent reduction of Nigeria’s annual rice import bill from 1.5 billion dollars in 2015 to 18.5 million dollars.

” It has also created 12.8 million direct and indirect jobs across different value chains and food belts of the country, ” it said.

The CBN stated that, in spite of challenges of flooding during the wet season, the COVID-19 pandemic and lingering insecurity in 2020 and 2021, it was still able to work with other stakeholders to inspire farmers to reap a bountiful harvest.

It added that similar rice and maize pyramids had been unveiled in states like Kebbi, Niger, Gombe, Ekiti, among others.

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