FEDERAL GOVERNMENT EARMARKS N10 BILLION TO BOOST RICE PRODUCTION
Posted by ASCE (admin) on Tuesday, 26th August, 2008 at 5:31 PM
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Minister of Commerce and Industry, Chief Charles Ugwu said that Federal Government has earmarked N10 billion as intervention fund for local processing of rice. He disclosed this on Tuesday, August 19, 2008 in Abuja while declaring open National Dialogue on Rice Production tagged “The Challenges of Sustainability” under the auspices of NEPAD Nigeria.

Mr. Usman Gwandu, the Director of Commodities who represented Chief Ugwu said the measure was taken to reduce the impact of skyrocketing price of rice and to make Nigeria become a net producer and exporter of the commodity. He added that the rice processors would utilize the fund as loan to procure modern processing facilities that would improve the quality of Nigerian rice and make it to meet international standard. He also noted that modalities for disbursing the fund were being worked out by the Bank of Industry

Source: The Guardian. Wednesday, August 20, 2008. Page 8

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