Rice Farmers Association (RIFAN), has assured Nigerians that the market prices of locally produced rice will further crash.
The association’s national president, Alhaji Aminu Goronyo who made this known in Abuja on Wednesday said the price a 50 kilogramme-bag of locally produced rice would drop to between N6,500 and N7,000 by April 2018.
The price-reduction plans, according to him, will be achieved under a joint programme of the association and the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN), to be launched in Abuja on January 13, 2018.
Goronyo explained that 12 million rice farmers in the country will benefit from the one-year partnership, adding, that 300,000 rice farmers from 20 states will be supported at the beginning of the programme in January.
According to Goronyo, the new initiative will double the achievements of the earlier edition of ABP, which was launched on November 17, 2015 in Kebbi, with a target to produce additional 2.5 million tonnes of paddy rice.
Goronyo said that the available statistics indicated that the rice consumption rate in the country now had increased from 7.9 million tonnes to over 8 million tonnes, while the volume of rice production had increased from 5.8 million tonnes to 6.9 million tonnes per annum.