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CBN governor to launch Ekiti rice pyramid project Tuesday


The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, will on Tuesday perform the official launch of the Ekiti State rice pyramid project in Ado-Ekiti, the state capital.

The state Commissioner for Agriculture, Dr Olabode Adetoyi, who disclosed this while speaking with newsmen at the weekend said the state was planning for the production of over one million metrics tones of rice within the next few years.

He said the state was embarking on the massive production of rice to be able to meet both local and external demands of the product.


Adetoyi explained that the state government had brought in investors, who were ready to invest in planting and processing of rice, adding that the product would be of high standard and stone-free.

He assured farmers that government would not fail in providing adequate security in the farms which he said would in no small measure make farming more attractive to youths in the state.


The commissioner said that no fewer than 23 new investors have been allocated lands to plant rice, cocoa and palm oil, among others to boost the economy of the state.

Adetoyi said, “the Federal Government under President Muhammadu Buhari, had set up the Anchor’s Borrowers Programme (ABP), under the Central Bank of Nigeria (CBN) to provide easy access to credit by farmers and processors at a low-interest rate, among others.

Top notch rice processing plant like Stallion, Dangote and Jumlar rice were all allocated land in a premium location in Ekiti Knowledge Zone, for quality rice production. Jumlar is nearing completion.

“Land clearing and development of over 5,000 hectares of land for commercial agriculture, out of which 1,000 are cleared for swampy rice along the river banks and valleys in the state. Land Bank Development to guarantee sustainable access to land. Over 40,000 hectares are being made available.”

He added that the government of Japan has brought in some equipment such as harvesters to provide high-quality rice production in the state.

While lamenting the recent fire incident which destroyed crops across the state, he disclosed that the government has approved funds to buy seedlings which will be distributed free to all affected farmers.



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