By ABDULLAHI Rabiu, Kano
THE Federal Government’s plan to make Nigeria self-sufficient in rice production is set to receive a massive boost with the imminent launch of the ultra-modern 16mt/hour Gerawa rice-milling factory in Gundunwawa, Kano State.
Inaugurated on Tuesday, 1 February 2022 by the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe alongside five state governors,
In Nnena said the facility will provide farmers in Jigawa, Kano and surrounding states with a steady demand for rice paddy.
Commenting on the scheduled inauguration, Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe commended the management of Gerawa Rice Mills Ltd for their giant strides in rice production and affirmed the Bank’s support for initiatives such as this which are geared towards growing the economy.
“At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale.
We are pleased to be associated with this project because of its potential to not only to 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”, avvered Onyeali-Ikpe. S
While shedding light on the bank’s interventions in the rice space, Mrs. Onyeali-Ikpe disclosed that the bank has facilitated the disbursement of over N34 billion in direct credit to players in the value chain.
“Our interventions have helped to unlock financing opportunities for many paddy rice farmers with significant contribution to the expansion of national paddy rice output.
This has created a positive ripple effect in the rural communities by way of farmer empowerment and employment generation. This is also in alignment with the business sustainability drive of our business,”
she explained.Further down the value chain, she noted that the bank has directly financed the construction and installation of several integrated rice mills across different geo-political zones in Nigeria. These rice mills, Mrs. Onyeali-Ikpe explained, have a combined rice milling capacity in excess of 500,000 MT per annum.
Recognizing the importance of the last mile traders in the value chain, the bank has also provided low-cost funds to rice traders to purchase rice from indigenous rice millers for sale to the final consumers.
“This has helped in stabilizing the prices of locally produced rice”, she added.Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with about 6million customers who are serviced across its 250 business offices and digital banking channels.
The bank is known for exceptional customer service and digital innovation.
