The Kano chapter of the Rice Farmers Association of Nigeria (RIFAN) on Thursday commenced the sale of paddy rice funded under the federal government’s agricultural intervention Anchor Borrower Programme (ABP) at a price lower to Kano rice millers.
Speaking during the sale, the RIFAN Chairman, Alhaji Abubakar Haruna Aliyu, disclosed that the association had, under its recovery processes of the Anchor Borrowers Programme (ABP) in the state recovered over 60, 000 bags of paddy adding that, the association has since commenced sales of the paddy to rice mills across the state.
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“Today we are witnessing sales of the recovered paddy to small and medium scale rice mills in the state.
“The good news here is that, this is coming at a point when the federal government under the CBN has issued guidelines on non-interest loans to SMEs and this will enable the rice mills to strengthen their capacity as we are selling the paddy below the open market price,” said the chairman.
According to him, the process will be an ongoing proceeding as the association keeps making recovery.
He charged beneficiaries of the ABP in the state that have not started making repayment to do so with immediate effect as the association has begun prosecuting defaulters.
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