The managing director and chief executive officer of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has said that the bank decided to finance the Gerawa Rice Mill in Kano because of its potential to improve the lives of many small-holder farmers in Kano, Jigawa states and the environs.
Speaking at the commissioning of an ultra-modern 420 metric tons per day capacity rice milling factory in Kano State yesterday, she also said the bank was moved to finance the project as its contribution to developing the country’s rice value chain and ensure food security.
The MDCEO who was represented by the bank’s executive director, northern businesses, Mr. Hassan Imam also disclosed that the Fidelity Bank had facilitated the disbursement of over N34 billion in direct credits to players in the value chain.
“At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale.
“We are pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs but to also develop the country’s rice value chain and ensure food security,” she said.
The N15 billion ultra-modern rice mill is constructed by Gerawa Group of Companies
In his remarks, governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele said prior to 2015 Nigeria had less than 10 functional integrated rice mills with a combined capacity of less than 350,000 metric tons.
However, he said with the coming of President Muhammadu Buhari-led administration, “these have increased to over 60 integrated mills, with combined capacity of over three million metric tons, as at today, with about 10 more mills scheduled to be commissioned this year.”
Emefiele said the establishment of the factory was in line with the federal government’s commitment towards ensuring food security in the country.
He urged rice mills owners to be involved in paddy production for sustainable supply through partnership with the Rice Farmers Association of Nigeria (RIFAN).
“As we increase the milling capacity of rice nationwide, we are encouraging all rice mills to embrace our backward integration programme and get involved in paddy production to guarantee sustainable supply of paddy to your mills and complement the supply from smallholder farmers.
“The private sector-led accelerated agriculture development scheme provides long-term financing options to millers to finance commercial farms, land development, irrigation facilities; and other agricultural infrastructure that will enhance the production plan.”
He disclosed that the quality of milled Nigerian rice could match others produced in other parts of the world.
“As Nigerians, we need to become more patriotic and embrace Mr. President’s mantra of producing what we eat and eating what we grow,” he added.
The CBN governor also said the private sector investment that has been unlocked in the establishment of the rice mills are testimonies of the conducive environment created in the rice value chain through the CBN-led initiatives and stakeholders’ cooperation.
Also speaking, the governor of Kano State, Mr. Abdullahi Ganduje, said the state was surrounded by dams and rivers, which give farmers ample opportunity for growing rice, tomato, and other crops.
He assured that his administration would continue to provide an enabling environment for farming and business activities in the state.
In his remarks, the chief host and chairman of Gerawa Group of Companies, Mr. Isa Gerawa said the establishment of the rice mill gives credence to the efficacy of the federal government’s agricultural development policies in encouraging farming and other related activities with support from the CBN.
He added that the intended 560 metric tons capacity rice mill will be completed in November 2022.
