ABUJA-President Muhammadu Buhari (PMB) will on Tuesday officially launch N20billion ‘Anchor Borrowers’ Programme’ (ABP) which the Central Bank of Nigeria has set aside for rice farmers across the country.
The programme which is an initiative of the Central Bank of Nigeria (CBN) aimed at creating an Ecosystem to link out-growers (Small Holder Farmers) to local processors will take place in Kebbi State.
Under the ABP, the CBN in a statement Saturday said it has set aside the sum of N20 billion from the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF) for farmers at a single-digit interest rate of 9.0 per cent to address the challenges of poor funding.
The Governor of the CBN, Mr Godwin Emefiele who met with rice producers and millers recently, said that the developmental initiatives programme has been designed to create economic linkages between farmers and processors to not only ensure increased agricultural output of rice paddy, but also importantly close the gap between production and consumption by ramping up utilisation capacity of Nigeria’s integrated rice mills.
Emefiele said If these noble objectives can be achieved, it is not unlikely that the country will require even more integrated milling capacity to meet the huge local production of rice paddy.

http://www.vanguardngr.com/2015/11/buhari-set-to-launch-n20bn-loan-for-rice-farmers-on-tuesday/

God bless PMB

God bless Nigeria

I see this as a wrong step, which need be stopped.

Off what benefit is it, to giving agriculturists advance loan a with interest rate at 9%, when the comptroller general of the the customs, Hameed ali has opened up area outskirts to rice merchants?

I was going to cheer the plan until I saw the loan fee - an astounding 9%. This soured the plan. Around the globe nations extremely aware of fortifying their economies particularly modern profitability, in which loaning and getting are vital, have their key loaning rates going from 0.1 to 2%.

Considering this incentive project is intended to animate rice cultivating, which would serve thepurpose of making employments, give moderate sustenance to Nigerians and stopping the huge outpouring of capital by means of rice importation; I would have thought some about the reasoning heads included in this advances plan would have think of intrigue under 1%. Around the globe, real sustenance creating nations have uncommon obtaining rate for agriculturists, and that is notwithstanding other "indirect access appropriation" plans like low yield protection, brought down rate for homestead apparatus, fuel and government financed master administrations. It appears Nigeria is yet to find the enchantment of offering charming motivating forces to ranchers... that is the base of industrialized economy - a great course out of the desensitizing over-reliance on oil by Nigerian

But you open border for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

Good! I hope d loan extends to the farmers in ebonyi. I saw their "rice hill" sometime last month n was astonished!

Note. The tiny dots at d top are people.

flyingsnail:
But you open boarder for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

biafraudsnail

what the fvck is your business about PMB & the Federal Republic of Nigeria ? Why dont you channel your attention on Biafra matters

me sef don turn farmer bdat nau

flyingsnail:
But you open boarder for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

my thoughts exactly. This is what he should have done instead of lifting ban on rice importation.

mtcheeew

flyingsnail:
But you open boarder for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

First of all, it is border not boarder and it's 'know' not 'no'. Secondly, even when the border was closed, smuggling was the order of the day so what is the point in closing it in the first place. Thirdly, we currently don't produce enough rice to satisfy the country's demand so why not achieve that first before thinking of closing the border for good. Lastly, do you think governance is like relay race where you run a little and hand over the baton to another person?.

flyingsnail:
But you open boarder for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

Does dat distop the initiative abt to be backed upon.lend hw 2 appreciate the effort of the change government

How much for cocoa farmers as these rice people share all these money
Mama Africa = 2 billion
Mama Gold = 2 billion
Caprice = 2 billion
Stallion rice = 2 billion
Dangote rice = 2 billion
Abakiliki rice = 5million (voted 5%SE)
Uzuakoli rice = 5 million (voted 5%SE)
Uduma rice = 5million (voted 5% SE)
U can Add urs...

Ymodulus:
typing

Where have u bn?

Aminat508:



Where have u bn?

Been busy. Ya dai? kwana biu.

Aminat508:


Where have u bn?

Your crush

Aminat508:


Where have u bn?

Your crush

Ymodulus:

Been busy. Ya dai? kwana biu.

lafia


i tambaye mayorall ya ba ni lambar wayarka

epadomo:




Your crush

48noble:
How much for cocoa farmers as these rice people share all these money
Mama Africa = 2 billion
Mama Gold = 2 billion
Caprice = 2 billion
Stallion rice = 2 billion
Dangote rice = 2 billion
Abakiliki rice = 5million (voted 5%SE)
Uzuakoli rice = 5 million (voted 5%SE)
Uduma rice = 5million (voted 5% SE)
U can Add urs...

ILUSIN RICE UBIAJA ESAN EDO STATE

Aminat508:
lafia


i tambaye mayorall ya ba ni lambar wayarka

Ki turomun aiko a whatsapp

flyingsnail:
But you open border for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

You are not making any sense.The fact is importation of rice still continued despite the ban,the customs officers were just making cash,while the govt was losing revenue.

Ymodulus:



Ki turomun aiko a whatsapp

OK. Nagode mallam

Ymodulus:
I see this as a wrong step, which need be stopped.

Off what benefit is it, to giving agriculturists advance loan a with interest rate at 9%, when the comptroller general of the the customs, Hameed ali has opened up area outskirts to rice merchants?

I was going to cheer the plan until I saw the loan fee - an astounding 9%. This soured the plan. Around the globe nations extremely aware of fortifying their economies particularly modern profitability, in which loaning and getting are vital, have their key loaning rates going from 0.1 to 2%.

Considering this incentive project is intended to animate rice cultivating, which would serve thepurpose of making employments, give moderate sustenance to Nigerians and stopping the huge outpouring of capital by means of rice importation; I would have thought some about the reasoning heads included in this advances plan would have think of intrigue under 1%. Around the globe, real sustenance creating nations have uncommon obtaining rate for agriculturists, and that is notwithstanding other "indirect access appropriation" plans like low yield protection, brought down rate for homestead apparatus, fuel and government financed master administrations. It appears Nigeria is yet to find the enchantment of offering charming motivating forces to ranchers... that is the base of industrialized economy - a great course out of the desensitizing over-reliance on oil by Nigerian

have you factored in other production costs and profit potential
you can make 400% profit in Nigeria due to cheap land and labour which makes 9% look positively illegal
besides nothing stops the borders being shut in 6 months time Abi we no go eat rice for six months gestation period

lomprico:
Good! I hope d loan extends to the farmers in ebonyi. I saw their "rice hill" sometime last month n was astonished!

Note. The tiny dots at d top are people.

Daayuuuunm
h need to git my ass into ebonyi sharpaly

epadomo:



Does dat 'distop' the initiative abt to be backed upon.'lend' hw 2 appreciate the effort of the change government

u gbagauned the thing

mikolo80:
have you factored in other production costs and profit potential
you can make 400% profit in Nigeria due to cheap land and labour which makes 9% look positively illegal
besides nothing stops the borders being shut in 6 months time Abi we no go eat rice for six months gestation period

even the banks wont take money from you, i mean stipend from you and return 9%. Dont come here to spew rubbish

Funny how people think. Won't you have enough before you close your borders? Na stone you wan dey chop abi.

flyingsnail:
But you open border for free import of rice

Funny set of people

If you don't no what to do, hand over to Osibanjo

This would have great impact on Nigerians.

Where is lalasticlala sef

They should make available the loan to locals and those who has interest in rice farming.

48noble:
How much for cocoa farmers as these rice people share all these money
Mama Africa = 2 billion
Mama Gold = 2 billion
Caprice = 2 billion
Stallion rice = 2 billion
Dangote rice = 2 billion
Abakiliki rice = 5million (voted 5%SE)
Uzuakoli rice = 5 million (voted 5%SE)
Uduma rice = 5million (voted 5% SE)
U can Add urs...

I'll be back for this ignorant comment later.

48noble:
How much for cocoa farmers as these rice people share all these money
Mama Africa = 2 billion
Mama Gold = 2 billion
Caprice = 2 billion
Stallion rice = 2 billion
Dangote rice = 2 billion
Abakiliki rice = 5million (voted 5%SE)
Uzuakoli rice = 5 million (voted 5%SE)
Uduma rice = 5million (voted 5% SE)
U can Add urs...

I'll add mines later.

Ymodulus:

even the banks wont take money from you, i mean stipend from you and return 9%. Dont come here to spew rubbish

Pls speak in full sentences
instead of hiding behind foul mouth
it's only ppl that have lost argument that result to violence
state your case

abroad you make 8% profit if your lucky so makes sense to give single digit interest rate

in emerging market you can make hundreds of %

it's called demand and supply

wetin you get for waec econs

sounds interesting.


Is rice the only agricultural product being subsidized?

what about cassava, etc.