• Privacy Policy
  • Terms
  • About us
  • Contact Us
Tuesday, February 7, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

CBN tasks rice millers on forex, employment

Rice

The Matters Press by The Matters Press
February 2, 2022
Reading Time: 1 min read
0
Rice farmers from poverty to wealth

Rice

Mr Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN) has urged rice mills in the country to embrace CBN’s backward integration initiatives aimed at conserving foreign exchange reserves.

RELATED POSTS

Lagos to spend 27.3% for modern infrastructure

Manufacturers reward media practitioners, seek partnership to revive sector

Zenith Bank shuts some branches over attacks, lack of new naira notes

Information obtained from CBN’s website indicates that Emefiele made the call on Tuesday, during the inauguration of Garewa Rice Mills in Kano.

He said that such initiatives would also revamp local production capacity and create employment.

He stressed the need for rice mills in Nigeria to get involved in paddy production to guarantee sustainable supply of rice paddy to their mills.

ALSO READ  Niger State inaugurates N40m rice processing plant for women

He said that such a move would also complement supply from the smallholder farmers through the apex bank’s partnership with the Rice Farmers Association of Nigeria (RIFAN) and prime anchors.

He noted that the number of rice mills in Nigeria had grown from less than 10 with a combined capacity of less than 350,000 metric tons in 2015 to over 68 with a combined capacity of three million metric tons as at January.

He said that the introduction of the Anchor Borrowers ‘ Programme (ABP) in 2015, had enabled immense growth in the sector, adding that about 10 more mills would be inaugurated within the year.

ALSO READ  Diversification, digital economy successful – Buhari

“Food security remains a cardinal deliverable for every developing economy as it serves as the fulcrum of many other economic development indices,” he said.

The CBN governor assured rice millers of collaboration in boosting the rice value chain in Nigeria.

He added that the revamped Nigeria Commodity Exchange would facilitate grading, sorting, quality assurance and storage infrastructure for key agricultural commodities.

Tags: Rice
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Lagos to spend 27.3% for modern infrastructure
Economy/Technology

Lagos to spend 27.3% for modern infrastructure

February 7, 2023
MAN concerns over CBN’s e-invoicing guidelines, calls for 90 days extension
Economy/Technology

Manufacturers reward media practitioners, seek partnership to revive sector

February 7, 2023
Zenith Bank unveils N765.6bn gross earnings
Economy/Technology

Zenith Bank shuts some branches over attacks, lack of new naira notes

February 7, 2023
Buhari unveils redesigned naira notes
Economy/Technology

Zenith Bank shuts some branches over attacks, lack of new naira notes

February 7, 2023
Nigeria key to African blue economy – Korean envoy
Economy/Technology

Nigeria key to African blue economy – Korean envoy

February 7, 2023
Nigeria to rebase CPI, GDP
Economy/Technology

Agriculture accounts for 23.78% of GDP

February 7, 2023
Next Post
Kenya hits the globe for oil investment

Oil firms risk getting stranded in asset of $500bn

Nigeria exports 3,991 containers of cocoa beans

Poor regulation makes Nigeria lose $400 per tonnes of cocoa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Power line to energise part of Oyo

Nigerians to enjoy improved power supply from July 1 – NERC

June 15, 2022
Buhari congratulates Biden, President-elect of USA

U.S to commit $55bn to advance Agenda 2063 priorities

December 16, 2022
Nigeria’s Pension fund assets grow by N1.11trn

Pension Fund grows by N1.2trn

January 5, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Lagos to spend 27.3% for modern infrastructure
  • Manufacturers reward media practitioners, seek partnership to revive sector
  • Zenith Bank shuts some branches over attacks, lack of new naira notes

Categories

  • Economy/Technology
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?