Nigeria Project 2015

BOI, Agriculture Ministry Partner on N13b Rice Fund

Information By: Lagos Chapter

The Bank of Industry (BOI) revealed it will partner with the Ministry of Agriculture on the ₦13billion Rice Intervention Fund introduced by President Goodluck Jonathan for the establishment of 10 integrated rice mills and six cassava mills across the country.

rice.pngSpeaking at the launch of the N5billion’s Cottage Agro Processing Fund, the Managing Director of the Bank of Industry Rasheed Olaoluwa said agriculture processing is one of the four key sectors under the Nigeria’s Industrial Revolution and noted it has backward linkages with the primary agricultural sector.

President Jonathan’s Agricultural Transformation Agenda not only seeks to increase crop production, but also to create value-added food processing industries as a means of reducing food imports, the bank explained.

President Jonathan is moving Nigeria forward by improving agriculture.