FARMERS TO ACCESS 10BILLION NAIRA RICE FOUND...Agric minister(Nigeria)
Rice farmers will begin to access the N10 billion rice development fund, announced by the Federal Government before November ending, says Minister of Agriculture and Water Resources, Sayyadi Ruma..
Ruma, who disclosed this to the News Agency of Nigeria in Abuja recently, added that modalities for the disbursement of the loan had been worked out and was awaiting President Umaru Yar’Adua’s approval.
“With presidentil approval, in the next two weeks, beneficiaries can begin to draw from the account and commence all activities on rice production.
“The empowerment will offset the deficit of over two million tons currently being imported annually, boost local production, create employment and conserve the nation’s foreign reserve,” Ruma stressed.
He said government would ensure that local processing of rice came on stream with a view to making the commodity affordable.
Noting that the major challenges facing local rice production were poor processing, storage, preservation, lack of credit facilities, decayed and inadequate infrastructure and poor quality of farm inputs, the minister expressed hope that the N10 billion would spur initiatives and help address the challenges in the rice sector.