Rice is one of Nigeria’s major staple foods. Prior to now, Nigeria spent billions of dollars every year on rice importation from Thailand and India, majorly. To encourage local rice production, the Central Bank of Nigeria CBN came up with intervention schemes, under its Anchor Borrowers Programme (ABP). The scheme is aimed at increasing local rice production which thus would discourage rice importation.

As much noble as the move by the Central Bank of Nigeria looks, there are lots of questions left unanswered such as the environmental impact of the scheme and looming protein deficiency that may hit the country.

This could possibly be because Nigeria is a country that hardly makes long term plans or considers the long term effects of certain policies it pursues. We believe in make-shift and fire-brigade approach to issues of national interest.

https://leadingreporters.com/why-cbn-rice-production-intervention-fund-may-prove-a-misplaced-priority-overtime/