President Muhammadu Buhari is set to unveil bags of rice paddy numbering one million stacked as pyramids in Abuja, the nation’s capital. Considered to be the biggest of its type in Africa, the pyramids are located on the grounds of the Abuja Chamber of Commerce and Industries (ACCI) on Airport Road.
The one million rice paddy stacked in 15 separate pyramids at the ACCI is in collaboration of the Central Bank of Nigeria (CBN) with the Rice Farmers Association of Nigeria (RIFAN). The bags of rice were planted and harvested from states across the country under the Anchor Borrowers’ Programme (ABP).
Five State Governors including Ekiti, Kayode Fayemi; Kebbi, Atiku Bagudu; Cross River, Prof. Ben Ayade; Ebonyi, David Umayi and that of Jigawa, Abubakar Badaru in attendance. Under the Anchor Borrowers’ Program, one million bags of rice paddy were planted and gathered from states around the country to construct the rice pyramids. Farmers were asked to return the bags of rice paddy that made up the pyramids in exchange for cash in order to repay the loans they received under the ABP.
The CBN’s Anchor Borrowers’ Programme (ABP) started in November 2015 with the goal of providing aid to farmers and influencing the value chain of various commodities in Nigeria.