Nigeria: African Development Bank Earmarks U.S.$150 Million to Boost Rice Production

The African Development Bank (AfDB) said it has earmarked $150 million to support rice value chain under the Agricultural Transformation Agenda (ATA) of the federal government.

Chief Operations Officer of the Bank Dr. Patrick Agboma disclosed this at the opening of a 2-day stakeholder's workshop on AfDB Pre-Appraisal Mission on the Bank's Rice Value Chain Development Programme (RVCDP) in Abuja.

He explained that AfDB in 2012 pledged $500 million to support Rice, Cassava, Aquaculture and Sorghum of the ATA.

Agboma said: "It is well known that the AfDB has committed $500 million for the ATA over the next three years but for this programme maybe up to $150 million could be put up."

He said there is the need for infrastructural development in the sector for sustainable development across states.

Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Mrs. Ibukun Odusote said that the programme will be implemented across six Staple Crop Processing Zones (SCPZ) in the country. She added that the centres will be located in areas where there are high potentials for production of the selected crops.

 

via Daily Trust

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