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Fidelity Bank finances ultra-modern rice milling factory

Onyeali-Ikpe

The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, joined the Managing Director of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, to inaugurate a 400-metric ton (mt) per day mega rice mill in Kano State constructed by Gerawa Group of Companies.

Speaking at the inauguration of the mill and the foundation laying of an additional 560mt rice mill, Emefiele noted that before 2015 Nigeria had less than 10 functional integrated rice mills with a combined capacity less than 350,000mt.

But with the coming of President Muhammadu Buhari-led administration, the statistics have grown to over 60 integrated mills with a combined capacity of over 3 million metric tons.

The CBN governor added that there are about 10 new integrated mills scheduled to be inaugurated this year, emphasising that the growing number of integrated mills have been complemented by hundreds of small-scale mills located across the states of the federation in effort towards boosting the nation’s food security.

He explained that the private sector investments that were unlocked in the establishment of these rice mills are a testimony of the conducive environment created in the rice value chain through the CBN-led initiatives and stakeholders’ cooperation.

We are pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs, but to also develop the country’s rice value chain and ensure food security.

Commenting on Fidelity Bank’s support for the project, its Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, said: “At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale.”

Onyeali-Ikpe, represented by the Bank’s Executive Director, Northern Businesses, Hassan Imam, added: “We are pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs, but to also develop the country’s rice value chain and ensure food security.”

The chief host and Chairman, Gerawa Group of Companies, Isa Muhammed Gerawa, said the rice mill is a testimony of the efficacy of the federal government’s agricultural development policies in encouraging farming and other related activities with support from the CBN.

He added that the intended 560mt capacity rice mill will be completed in November 2022.

The event was also attended  by the Governors of Jigawa State, Mohammed Badaru Abubakar, and of Kebbi State, Abubakar Atiku Bagudu; captains of industries and heads of corporate organizations.

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