Farmers To Earn $2bn From Rice Production

The Federal Government has projected that farmers in the
country would earn about $2bn by year 2015 with steps being taken to improve
rice production in the country.

The minister Agriculture and Rural Development, Dr. Akiawumi
Adesina explained  that steps taken by
the government to improve rice production would lead to the segment becoming
self sufficient by 2015.

Speaking recently to The Tide source recently in Abuja the
minister said this was possible  as
Nigeria was rolling  out an ambitious
reform programme across its agricultural sector aimed at cutting the country’s
dependency on food imports, creation of jobs and generating economic growth.

He told the global publishing, research and consultancy
firm, Oxford Business Group  (OBG) that
the measures which involve boosting
private sector participation and improving competitiveness would form a
key part of Nigeria’s plans to diversify the economy away from oil.

He said in the next 5 years the country plans to add 20m
tonnes of additional food to the domestic food supply to create 3.5 million
jobs in the sector and to replace up to 40 per cent of wheat flour imports with
high-quality cassava flour.

Adesina highlighted the results that some of the key reforms
already introduced were bringing such as the move to privatise the procurement
and distribution of fertiliser and seed, adding that as a result, “our private
sector firm are growing and foreign direct investment is increasing

He pointed out that he was optimistic that Nigeria’s banks
were well place to support the expansion of the country’s agricultural sector.