Sky High Rice Pyramids When Released For Sales Will Reduce Cost Price – Buhari

President Muhammadu Buhari yesterday said the sky high rice pyramid commissioned in Abuja will help reduce the high cost of rice in Nigeria when millers finally processed and released the produced rice for sales.

President Muhammadu Buhari made the statement on his social media page today.

President Muhammadu Buhari had on Tuesday, January 18, 2022, presided over the official commissioning ceremony of the Central Bank of Nigeria and Rice Farmers Association of Nigeria, RIFAN, Rice Paddy Pyramids at the Abuja International Trade Fair Complex.

“Those Pyramids are strong reminders of our yester-year’s agricultural commodity pyramids, such as the groundnut pyramids in Kano. Secondly, they symbolize that we can produce what we eat.

“We have previously unveiled and showcased similar sky-high rice paddy pyramids in Argungu, Kebbi State, Minna, Niger State, Zauro, Kebbi State, and Ado Ekiti, Ekiti State”, President Buhari said.

President Muhammadu Buhari said currently, rice production in Nigeria has increased to over 7.5 million metric tons annually unlike before the introduction of the Anchor Borrowers Programme, APB, he said the average production in Nigeria between 1999 to 2015 was less than 4 metric tons annually.

“Before this administration launched the ABP, there were only 15 standard Rice mills in Nigeria. As at today, we have over 50 Standard and integrated Rice mills creating jobs and reducing unemployment. We expect additional significant output when two new mills are started in Lagos and Katsina.

“The bags of paddy from the Pyramids will be moving straight to rice milling plants across Nigeria, which lead to the release of processed rice to the markets by the rice millers. The measure will aid our efforts at reducing the price of rice in Nigeria”, Buhari said.