CBN governor Emefiele debunks rumour about Nigeria’s rice imports

– CBN governor, Godwin Emefiele, has debunked claimed that Nigeria’s rice imports had increased by 400,000 tonnes in 2018

– The United States Department of Agriculture (USDA) had projected Nigeria would import 400,000 tonnes of rice in 2019

– Federal government had said that over N100 billion was invested into the cultivation of rice, wheat, sorghum and many other farm produce in Nigeria

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has debunked news that Nigeria’s rice import has increased by 400,000 tonnes.

The Cable reports that the CBN governor had in a report, said he read that a United States agency reported that Nigeria’s rice imports had increased by 400,000 tonnes in 2018.

TRACKNEWS.NG gathered that the governor dismissed the report as “false and fake news.”

It was gathered that the United States Department of Agriculture (USDA) projects Nigeria would import 400,000 tonnes of rice in 2019, becoming the second largest importer of rice in the world, after just China.

“China and Nigeria are projected to remain the largest rice importing countries in 2019, followed by the EU, Cote d’Ivoire, and Iran,” the USDA report read.

“Nigeria and Egypt are projected to account for the bulk of the 2019 import increase.”

Speaking to this situation at the 2018 Nigeria Investment Conference hosted by the Chartered Financial Analysts (CFA) society of Nigeria in Lagos, Emefiele, said Nigeria has imported only 25,000 tonnes of rice in 2018, dismissing the projections.

He said: “I was reading a report where the United States said the volume of imports of rice increased by 400,000 tonnes.

“I am not a politician, but people should be very mindful when they open their mouths to say what is untrue because we would come out as central bank to attack it particularly if you use data incorrectly.

“I seize the opportunity to say that it is untrue. The data that we have today shows that rice imported legally into the country is less than 25,000 tonnes in 2018 so far.

“Then how come an agency which has not been to Nigeria or even been to the farms to see what we are doing, just come up and say that Nigeria has imported 400,000 tonnes above what it normally should import?

“Go to the data of countries that export rice, you would see their data; you would find the quantity of rice imported by Nigeria. This is false and fake news.”

The CBN, under the leadership of Godwin Emefiele, has invested heavily into the Anchors Borrowers Programme put in motion in collaboration with the Muhammadu Buhari-led federal government.

According to the CBN and the federal government, over N100 billion has been invested into the scheme for the cultivation of rice, wheat, sorghum and many other farm produce.

The CBN says over 800,000 farmers have benefitted directly from the scheme, which has been responsible for a drastic fall in Nigeria’s rice imports.

The bank insisted that not a single dollar has been awarded for the import of rice since 2016.

Meanwhile, TRACKNEWS.NG had previously reported that the governor of Central Bank of Nigeria (CBN), Godwin Emefiele, revealed that Nigeria has saved not less than $800 million following the country’s decision to cut down its importation of goods like rice, wheat, sugar, tomatoes and milk.