The Managing Director of Bank of Agriculture (BOA), Alhaji Kabiru Adamu, has revealed that the Federal Government of Nigeria has approved the setting up of 10 new rice mills across the federation as one of its strategies in improving agriculture through the value chain.
Alhaji Adamu made this known during stakeholders’ meeting with farmers’ cooperative societies from all the 44 local governments in Kano state organized by the management of the newly established ultra-modern agricultural produce commodity exchange named Gezawa market commodity exchange held in Kano.
According to him, the federal government’s clear interest in agricultural sector development has indeed yielded result adding that the plan to set up the ten rice mills across various states is one of next step taken to do more. He added that in Kebbi alone, under the anchor borrower scheme, FG had injected N60billion from 2015 to date.
“Under anchor borrower agricultural scheme from 2015 to date, N60billion was injected in Kebbi state alone, and the outcome is very glaring for all to see. In Kebbi presently, there are many newly established small rice mills with not less than N2billion capital.
This is to show you that wealth has entered Kebbi to stay,” he said. Earlier, in his address one of the center’s consultants, Mr. Bimfa Binchang revealed that the meeting is aimed at enlightening the farmers on the various business chances that exist in the market commodity exchange and also to educate them on processes to explore various available financial interventions.
He added that the center which is a product of various business investors came to life to unlock the vast potentials of the agricultural value chain in the nation. He stressed that it will also assist in eradicating the menace of middlemen in agricultural businesses that have been posing a threat to its existence in reducing the additional value farmers stand to gain.