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Rice Revolution: CBN Gov Godwin Emefiele says 250,000 Kebbi Farmers will become Millionaires by end of 2017



CBN Governor, Godwin Emefiele

Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), has said that 250,000 millionaire farmers will be created Kebbi state by the end of 2017.

Emefiele made the disclosure to Kebbi farmers when he visited the WACOT Rice Factory in Argungu on Thursday.

“I was told by a permanent secretary that 88,000 millionaires had been created through rice and agricultural revolution. I am assuring you that by the end of this year, 200,000 to 250,000 farmer millionaires will be created through the revolution,” he said.

He also assured farmers in the state that government would buy off whatever quantity of rice they were able to produce.

Emefiele commended the Emir of Argungu, Alhaji Sama’ila Mere, for providing land for the company and for his desire to stimulate agricultural revolution in the country.

He, however, called on other royal fathers to emulate the monarch’s desire to drive agricultural revolution in the country.

Also speaking, the Minister of Agriculture and Rural Development, Audu Ogbeh, expressed optimism that farmers in the state, will soon receive national recognition.

He, however, underscored the need for other states in the country to use the agricultural best practices of Kebbi as a benchmark, while embracing farming as a sustainable means of wealth creation.

Earlier, Rahul Savara, the Chief Executive Officer of the company, said that the rice factory would generate 3,500 jobs and engage the services of 6,000 farmers.

He said that the rice factory was capable of producing 120 tonnes of rice daily, adding it could also generate one megawatt of electricity.

He commended the state government and other stakeholders for partnering with WACOT Rice Factory.

In his remarks, Governor Atiku Bagudu of Kebbi assured the company of the maximum support and cooperation of his administration.

He commended the company for its achievements within a short time and called on other companies to invest in the state.

“We are ever ready to support any company that is interested in investing in our state,’’ he added.


  1. Iris

    March 24, 2017 at 6:24 am

    Well with the naira free falling that’s not surprising. At the rate things are going, how much will a million naira be?

    • Nicex

      March 24, 2017 at 9:47 am

      The naira is actually gaining against the dollar, so a million naira will still be valuable. Don’t forget that production of rice Will also reduce the need to import. Long story short this is a good thing and people should grab this opportunity.

  2. Ibrahim Sani

    March 24, 2017 at 11:08 am

    Thas good what about other states-CBN

  3. Ibrahim Tataye

    March 24, 2017 at 11:19 am

    Very Good,but other states farmers are waiting for CBN intervention.

  4. Tee

    March 25, 2017 at 3:32 pm

    Humm ‘.. 250,000 millionaire farmers will be created Kebbi state by the end of 2017. ‘ is that the main purpose of the program?
    Why millionairess ? why not say we will have abundant harvest and hunger will be diminished by the end of 2017, why every thing has be about money and material riches? This will only encourage the get rich quick mentality that has pervaded the whole country.

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