Fidelity Bank is financing a state-of-the-art 400 ton per day rice mill

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Kayode Tokede

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, joined Fidelity Bank Plc Managing Director, Mrs. Nneka Onyeali-Ikpe and a host of dignitaries, including two State Governors, to order a mega rice of 400 metric tons per day. Windmill in Kano State built by Gerawa Group of Companies.

Speaking during the commissioning of the plant and laying the foundations for an additional 560 metric ton rice mill, the CBN Governor said that before 2015, Nigeria had less than 10 functioning integrated rice mills with a combined capacity of less than 350,000 metric tons, but with the coming of the Administration led by President Muhammadu Buhari, the statistic increased to over 60 integrated factories with a combined capacity of over 3 million metric tons.

The CBN Governor added that there are about 10 new integrated factories expected to come on stream this year, pointing out that the growing number of integrated factories has been supplemented by hundreds of smaller factories located in the states of the federation in order to stimulate the nation. food safety.

He explained that the private sector investments that have been unlocked in the establishment of these rice mills are a testament to the enabling environment created in the rice value chain through CBN-led initiatives and stakeholder cooperation.

Commenting on Fidelity Bank’s support for the project, its Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, who was represented at the event by the Bank’s Executive Director, Northern Businesses, Hassan Imam, said: “At Fidelity Bank, we are known for facilitating deals like this where the impact is phenomenal and often nationwide. We are happy to be associated with this project because of its potential to not only improve the lives of many smallholder farmers in Jigawa, Kano and surrounding areas, but also to develop the country’s rice value chain and ensure food security.

The main host of the well-attended event and chairman of the Gerawa Group of Companies, Isa Muhammed Gerawa, said the establishment of the rice mill was a testament to the effectiveness of the federal government’s agricultural development policies in encouraging the agriculture and other related activities with the support of the CBN. He added that the planned rice mill with a capacity of 560 metric tons will be completed in November 2022.

The occasion was honored by Executive Governors of Jigawa State, Mohammed Badaru Abubakar and Kebbi State, Abubakar Atiku Bagudu; captains of industry and business leaders.

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