Edo State rice farmers are now smiling to the banks, courtesy of the N5billion loan from the Central Bank of Nigeria (CBN) under the Commercial Agric Credit Scheme, writes OSAGIE OTABOR
BEFORE now, rice, which is Nigeria’s major staple food used to be easily available and affordable. The price of the commodity was not on the high side as the poor could afford it. That was then. Now, the price of the commodity is literally out of the reach of the poor.
In Edo State, the price is skyrocketing, with a bag of local rice selling for between N19, 000 and N25, 000 while imported foreign rice goes for between N28,000 and N30,000 per 50kg. Before now, rice was grown on subsistence basis in the state and not much is made available for the market.
Last year, some rice farmers assisted by the Edo State government through the FADAMA 111 Additional Financing Project were in tears. Their rice fields, measuring over 300 hectares in Iguoriakhi, Agenebode and Warrake, were washed away by flood…