N60 Billion Govt Subsidy: Build Tools For Rice Farming in Nigeria

N60 Billion Govt Subsidy: Build Tools For Rice Farming in Nigeria

The Federal Government of Nigeria has approved N60 billion to support rice farming in the nation. Simply, entrepreneurs and companies with focus on rice production would win. As you work on the 30 agriculture and agtech business ideas, be thinking how you would bias most plans for rice farming.

The federal government has approved N60 billion in support of its rice subsidy programme aimed at bringing down the price of the commodity across the country.

The Minister of Agriculture and Rural Development, Audu Ogbeh stated this when he briefed State House correspondents on the outcome of the meeting of the National Food Security Council.

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“There is a subsidy programme coming up. Government has approved some money, N60 billion to support the rice industry to bring down prices. But we are going to handle it differently.

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“Every country does it for food, we will use a different method to do it and it will be cheap credit to the farmers, millers and the marketers, not outright cash subsidy for their product,’’ he said.

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