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CBN approves N15.7b for additional rice mills

CBN approves N15.7b for additional rice mills

In a bid to reduce foreign exchange spending on food importation through enhanced funding for agriculture, the Central Bank of Nigeria (CBN) has approved funding for additional rice mills in the country. Meanwhile the Minister of Agriculture, Chief Audu Ogbeh has said that the federal government may soon stop importation of rice into the country given the increased rice production across the country facilitated by the CBN backed Anchor Borrowers’ Programme (ABP).