BusinessDay

Facidi Processing commends Buhari on rice pyramid initiative

Facidi Processing and Agro-Allied, an agro-allied company, specialized in rice production, and commodity trading, has commended the 1.2 million-bag paddy rice pyramid initiative by President Muhammadu Buhari unveiled on Tuesday in Abuja.

Also, the agro-allied firm commended Godwin Emefiele, Governor of the Central Bank who was also present at the unveiling.

Describing it as a great vision and a bold step in the right direction for the economic growth of Nigeria, the company expressed hope that the rice milling sector will be more efficient and produce quality rice for the citizens of Nigeria.

President Buhari had said that his food security agenda would drive down prices of food items in the country.

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In a statement, Chidi Okoroafor, founder of the company, said: “The 1million bags of rice pyramid by President Muhammadu Buhari are a great vision and a bold step in the right direction for the economic growth of Nigeria.”

“The program will help create jobs and at the same time reduce the high cost of food. It will be a welcome development if it can be extended to other crops and be done in a commercial and exportable level.”

Also commenting on the initiative, Habila Malgwi, co-founder of the company said her organisation believes that this initiative will also help the rice milling sector to be more efficient and effective.

“Nigeria has no business importing rice. Instead, we should be exporters of rice. With the capacity of rice our local farmers’ farm/produce, we can feed not only Nigerians but many around the world and this will bring about additional revenue agriculture contributes to the nation’s economy,” Malgwi said.

Emefiele has put Nigeria’s paddy rice production at 4.5 tons per annum before the Anchor Borrowers Programme initiative in 2015, saying it has risen to over 9 million tons in 2021.

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