Nigeria To Begin RiceExport In 2015, Says Govt

NIGERIANS have been assured that, by year 2015, the nation is to become a net exporter of rice.Also, the Central Bank of Nigeria [CBN] Governor, Mr. Sanusi Lamido Sanusi, canvassed a review of Nigeria's investment policies to make it mandatory for multi- nationals doing business in the country to list their concerns on the Nigerian Stock Exchange (NSE) platform to create investment opportunities for Nigerians, failing which such companies should be kicked out of the country.At the moment, Nigeria is loosing huge sums of revenue to waivers granted some importers and spends several billions of US dollar annually on the import of the product which is a staple food in the country in preference to the locally manufacturedrange of product owing largely to low processing and packaging quality. Nigeria's demand for rice currently stands at 5 million metric tonnes while its local production is about 2.5 million metric tonnes.But according to the Minister of Agriculture and Natural Resources, Dr. Akinwumi Adeshina, in a presentation at the second day of the NESG, this is to give way in the next two years as the Federal Government has firmly put in place machineries to boost locally produced rice and also ensure that it competes favourably with the imported range.Part of the measures, the Minister said is the Federal Government's decision to abolish the distribution of fertilizers and other farming inputs by government officials which is now to be handled by the private sector to check diversion and ensure that the input gets to the farmers.He also said farmers will be encouraged to form corporations where government would deal with them directly.According to Adewumi: 'The target of the ministry in the near term is to replace imported brown rice with locally produced brown rice by 2013 and partially finance incentives through increased import levy on brown rice.''He spoke further: 'Imports will be substituted by stimulating private sector to invest in rice processing facilities in areas of current high production. Incentive can be partially financed through increased import levy on finished rice.'Our rice transformation plan is to ensure that Nigeria will be self sufficient in four years. Nigeria must become self sufficient in rice in a manner that grows the agriculture sector and creates jobs.
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