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CBN-RIFAN Brand To Crash Price Of Rice

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CBN-RIFAN

CBN-RIFAN Brand To Crash Price Of Rice

The mass production of the local rice, will among other numerous things, crash the prices of Nigeria’s most consumed staple food.

The programme, funded by CBN is midwifed by the Rice Farmers Association of Nigeria (RIFAN).

Already, the Secretary of RIFAN, Taraba State chapter, Mamman Rabiu flagged off the sale of the rice over the weekend.

He noted that 36,000 bags of padi rice were sold to the integrated millers, local millers, women groups and among others at the subsidized price of N11,000 per 100-kilogram bag.

Rabiu noted the 36,000 bags were collected from members of RIFAN as 30 percent equity of the 2019/2020 dry season recovery, adding that the rice was sold to millers in the local communities, who are expected to process it and resell to the community at a subsidized price.

He disclosed they have signed a Memorandum of Understanding (MoU) with the millers to sell the finished products at a subsidized price as part of efforts to ensure food security.

The secretary said the agreement would enable ntegrated millers who have bigger machineries for de-stoning and polishing to sell a processed bag of rice at N15,000 per 50 kilogram bag.

“It is worth mentioning that a 50kg local bag of rice sells at an average of N18,000 in Taraba state. On the other hand, the RIFAN agreement will see small holding millers (who don’t have machineries for de-stoning and polishing, etc) to sell their 50kg bag at between N13-13,500”, he added.

According to him, “The Taraba State success story is what is happening across the entire federation. The essence of ABP is to ensure food safety and security. By this, the local farmers are economically empowered, while the general public is fed with healthier and nutritious rice at affordable prices”.

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Recall that CBN Governor, Emefiele recently said in line with President Buhari’s directive, that the bank would boost provision of improved seedlings and access to finance for rural farmers in the agricultural sector across 10 commodities such as rice, maize, cassava, cocoa, tomato, cotton, oil-palm, poultry, fish, and livestock/dairy.

“Our choice of these 10 crops is driven by the amount spent on the importation of these items into the country and the over 10 million jobs that could be created over the next five years if efforts are made to expand the cultivation and processing of these items in Nigeria,” Emefiele said

Emefiele said the bank would sustain its intervention in the agriculture sector through its development finance mandate, in order to help catalyse growth in critical sectors of the economy such as agriculture and the manufacturing sectors.

“When I became governor of the Central Bank in June 2014, imports of rice, fish, wheat and sugar alone consumed about N1.3 trillion worth of foreign exchange from the Bank. My immediate question was: can we not produce these ourselves? After all, only a few decades ago, Nigeria was one of the world’s largest producers and exporters of many agricultural products like palm oil, cocoa and groundnuts,” the governor said.

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Agriculture

TMP Presents Equipments to CGC Adeniyi, Strengthens Collaboration

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Author: Abra Iruoghene.

The Comptroller-General of Customs (CGC), Adewale Adeniyi, received a customised generator and a bus on behalf of the Service from the Chairman of the Trade Modernization Project (TMP), Saleh Ahmadu, on 5 July 2024, at the Project Management Office domiciled at the
Nigeria Customs Service Management Quarters in Abuja.

CGC Adeniyi expressed appreciation to TMP for the equipment presented to the Service. He said, “On behalf of all officers and men, I appreciate this gesture that TMP has done for us through the presentation of the 250KVA generator and the 13-seater 2024 Toyota Hiace bus.”

Adeniyi disclosed that the Service is aware of TMP’s efforts in providing tools and equipment needed to drive the modernisation program. He said, “We know that computers alone will not work by themselves; they will not effect the desired modernisation that we need.”

He added, “It will require human input, and the working environment of these elements is very important as well as those tools. So, we therefore appreciate these efforts you put in place to help us enhance the working environment and also improve the welfare of these officers.”

Furthermore, he applauded the Trade Modernization Project for being a worthy and dependable partner in their modernisation drive. He noted that the equipment delivered would be put to good use to bring added value to NCS operations.

Additionally, Adeniyi encouraged the officers, from the rank of Assistant Comptroller and Deputy Comptroller, undergoing special training by the TMP in preparation for the management duties of the Service, to be attentive and acquire the necessary knowledge to discharge their responsibilities and take up the task ahead of them professionally.

Mr Saleh Ahmadu, the Chairman of the Trade Modernization Project (TMP), who handed over the equipment, said the bus was for the effective movement of personnel between the headquarters and the TMP office, while the generator was for constant power supply to the management quarters of the NCS. He acknowledged the CG for his continuous support and collaboration.

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Agriculture

Ogun I Customs Seeks Collaboration With Traditional Rulers to Curb Smuggling 

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Author: Gift Wada.

In an effort to fight smuggling and promote trade facilitation through Nigeria’s land borders, the Nigeria Customs Service, Ogun I Area Command, has sought collaboration with Ogun State traditional rulers.

The Customs Area Controller (CAC), Comptroller James Ojo, on 4 July 2024, paid a courtesy visit to the Alake of Egbaland, His Royal Majesty Oba Adedotun Aremu Gbadebo, and other esteemed traditional leaders, emphasising the importance of their support in maintaining regional peace and security.

Comptroller Ojo, speaking on the vital role traditional rulers play in their communities, stressed the need to leverage their influence and insights to combat smuggling activities effectively.

He stressed the strategic importance of Ogun State’s borders with the Republic of Benin and underscored the necessity for a united front in tackling economic crimes.

The visit also included discussions with sister security agencies, such as the Nigeria Police Force, the 35 Artillery Brigade Nigerian Army, the Federal Road Safety Corps, the Defence Intelligence Agency, and the Nigeria Correctional Service.

These engagements emphasised the need for continuous and robust collaboration to address the challenges of smuggling and other cross-border crimes.

The CAC reiterated the commitment of the Ogun I Area Command to the principles of consolidation, collaboration, and innovation, aligning with the policy thrust of the Comptroller-General of Customs.

In his remarks, the Alake of Egbaland assured continuous support and collaboration with the Ogun I Area Command.

He commended the Customs Area Controller for the anti-smuggling activities within the area and pledged commitment to combating smuggling and other economic crimes alongside customs.

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Agriculture

FG Delegation Meets in Segbana, Benin Republic, to Fast-Track Reopening of Tsamiya Border in Kebbi

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As CGC Adeniyi Strengthens Ties with Benin Customs to Enhance Trade Facilitation

Author: Adeogun Folusho & Muhammad Bashir.

In a bid to enhance regional integration and boost economic activities, a high-level delegation from the Federal Government of Nigeria engaged in an inter-ministerial meeting with counterparts from the Benin Republic to discuss the reopening of the Segbana-Tsamiya border post in Kebbi State. The meeting, held on May 21, 2024, aimed to fast-track the operationalisation of the border post.

Among the Nigerian delegation are the Honorable Minister of Foreign Affairs, Alhaji Yusuf Maitama Tuggar, Executive Governor of Kebbi State, Dr. Nasir Idris, Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, Director of Home Finance at the Ministry of Finance, Alhaji Ali Mohammed, and Dr. Dakorinama Alabo George, Director General Border Communities Development Agency (BCDA), among other dignitaries.

The discussions delved into comprehensive issues surrounding the border post’s opening, focusing on logistics, security measures, and the economic impact. Feasibility studies were presented, outlining expected benefits such as increased trade and potential challenges that might arise. The deliberation also included setting timelines and identifying necessary infrastructure to ensure a smooth operation.

During the visit, the Comptroller-General of Customs, Adewale Adeniyi, affirmed that engagement between the two countries will foster their efforts to enhance the economy. According to him, the aim was to improve the free flow of trade and commercial activities between the two countries, primarily through Northern Borders.

He said, “To ensure closer working and economic relations between Nigeria and the Benin Republic. Over the last six months, within this collaboration framework, we have been working with our colleagues from the Bennese Customs Administration to ensure that we bring the economy together through easy border crossing with goods.”

On her part, the Director General of the Benin Customs Administration, Adidjatou Hassan, appreciated the move to reopen the border, which, according to her, will strengthen the trade activities between citizens of the two countries.
She said, “This development is expected to increase economic cooperation and strengthen bilateral ties between the two nations. We are committed to sustaining our seamless collaboration with the Nigeria Customs Service while enhancing security at our borders and trade activities.”

Meanwhile, the Nigeria Minister of Foreign Affairs, Yusuf Tuggar, said the decision to form the forum was based on Presidents Bola Ahmed Tinubu’s and Patrice Talon’s directives to strengthen social and economic interaction as well as expanding trade and commercial ties between the citizens of the two nations.

The Kebbi State Governor, Nasir Idris, who was part of the delegation, thanked the two countries’ presidents for making moves to reinvigorate the free trade and transportation of goods to various destinations within the two countries.

Governor Nasir, however, emphasised that “the state has maintained good neighbourliness with the Republic of Benin on economic activities and social interaction as both beneficial of the border.”

Further deliberations involved addressing disputes and agreeing on the operational framework. Reinvigoration of a joint commission between Nigeria and Benin took centre stage in the discussion. Also, a significant step towards resolving issues and ensuring the necessary infrastructure forms part of the discussion.

The meeting concluded with a summary of key points discussed and a formal statement of commitment from both sides. Also, an agreement was reached on scheduling a follow-up meeting in June 2024 to monitor progress and address any outstanding issues.

The delegation also agreed to hold a bi-national committee meeting with a defined commitment for subcommittees to submit their reports within two weeks to streamline seamless efforts towards border reopening.

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