Page 2 - Paddy Aggregation Scheme News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The argument advanced by the RIPAN boss is very apt. Over the years, as a result of the Buhari administration’s enthusiasm for rice production, the Central Bank of Nigeria (CBN) invested heavily in the sub-sector. The apex bank funded the multi-billion Naira Anchor Borrowers Programme (ABP) for farmers, the Paddy Aggregation Scheme (PAS) for processors, and even the Commercial Agricultural Credit Scheme (CAC) which provides funds for agro-investors at a single-digit interest rate. Based on these measures, government has beaten its chest that Nigeria is self-sufficient in rice production, if...

Stakeholders in the value chain, including local processors and growers, have expressed dismay over the development, saying it would reverse the gains recorded in the last few years. However, some observers have blamed millers for mopping up paddy rice and processing it in piecemeal, to attract more profit, thereby sabotaging the effort of the federal government in making rice affordable to Nigerians. President Muhammadu Buhari had in December, 2020, directed that the four borders that were closed in 2019 be reopened. Some traders told our correspondents that even while the border closure las...