Business
FG Unveils Local Rice Threshing Machine
The Federal Ministry
of Agriculture and Rural Development last Saturday demonstrated the use of local fabricated rice threshing machine to farmers in Lavun Local Government Area of Niger State.
The Director, Rice Value Chain, Dr Victor Onyeneke, who introduced and demonstrated the machine to over 100 farmers, said the idea was to remove impurity associated with paddy rice.
Represented by Mrs Ihecherem Nneka, an Assistant Chief Agricultural Officer, Onyeneke said the machine saves time compared to using manual method of processing the paddy rice.
“Most of our processed local rice cannot compete favourably with foreign rice because of impurities such as stones and others from the farms.
“The introduction of thresher cleaner machine will ensure that our local rice compete favourably with any foreign rice,’’ he said.
The director said the programme was part of the Agricultural Transformation Agenda of the Federal Government introducing the mobile rice thresher to rice farmers across the country.
He said the idea of fabricating the machine with local content was a collaboration of the ministry, Africa Rice and National Centre for Agricultural Mechanisation, (NCAM) Ilorin.
Onyeneke said that the machine, which would be put into use by the farmers for one month, would be sold to rice producing community in the state at between N300, 000 and N700, 000 each.
Earlier, the state Director, Federal Ministry of Agriculture and Rural Development, Mr Bello Salihu, said that the machine was capable of threshing one tonne of paddy rice per hour.
Salihu said that the manual labour would have taken between eight hours for the same processing.
He said that the introduction of the machine was to address the challenges of production and processing faced by rice farmers in the country.
He said the various rice producing communities that have formed cooperative societies were expected to place order for the machine through the ministry.
He said that the machine could also thresh sorghum and maize.
Chairman Sosa Rice Farmers Cooperative Society, Alhaji Mohammed Chado, commended the Federal Government for the gesture.
Chado said that the machine would reduce the stress of rice farmers in producing neat paddy rice.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
