to the market as we strive to manage inflation and grow the rice value chain in nigeria. 12. the resuscitation of the nigeria commodity exchange ( ncx ) is another strategic initiative to enhance the food security drive of your administration. a vibrant commodity exchange will significantly enhance post - harvest handling, reduce wastages and guarantee effective pricing for farmers. it will also minimize the adverse effects of the activities of middlemen, commodity hoarders and ultimately transfer the gains from primary production to other nodes of the value chain. this aligns with our resolve to take outputs as loan repayment under the abp and the produce will drive the operations of the commodity exchange going forward. 13. we have deepened our stakeholders'engagement to increase the arable land under cultivation and improve the productivity per hectare using improved seeds and agronomic practices. we are currently exploring a new rice seed variety with rifan that has potential to deliver over 8 tons per ha. the pilot programme should commence in the 2022 dry season, and it has the potential of being the game changer for the rice sector in nigeria. we will work with the various seed certification authorities and explore the possibility of patenting it for rifan as part of their legacies under the programme. 14. your excellencies, distinguished ladies and gentlemen, all of the achievements i have highlighted above would not have been possible without the leadership and vision of president buhari. these accomplishments also show that with the right leadership and vision, we can meet any and every challenge in this country. covid - 19 has shown that we cannot rely on imports and hence we must chart our own path to attaining selfsufficiency in our basic needs as a nation. and this must become our preeminent preoccupation going forward. 15. your excellency mr. president, sir, we have other events like the unveiling of maize pyramids by maan and the unveiling of inaugural rice pyramids in the south - south and south - east zone lined up for the year. we will surely be beckoning on you sir to grace these events. 16. mr. president, distinguished ladies and gentlemen, on behalf of the management of the central bank of nigeria and the nigerian farmers, i thank you all for being part of this event and may god bless nigeria. 3 / 3 bis - central bankers'speeches

godwin i emefiele : unveiling of fct mega price pyramids under the rifan - cbn anchor borrowers'programme opening remarks by mr godwin i emefiele, governor of the central bank of nigeria, at the unveiling of fct mega price pyramids under the rifan - cbn anchor borrowers'programme, lagos, 18 january 2022. * * * 1. protocols : your excellency the president and commander in chief of our armed forces, your excellency the vice president, the honourable minister of the fct, the honourable minister of agriculture, other members of the federal executive council, colleagues from the central bank of nigeria, ladies and gentlemen. 2. my remarks today would focus on three main themes, namely a ) the outstanding results of president buhari's vision for food security ; b ) the courage and persuasion of our farmers ; and c ) the conviction that it is still possible to do great things in our country. it is therefore with immeasurable pride and boundless satisfaction that i welcome you to today's epoch - making event, which is the official unveiling of the single largest rice pyramids ever assembled. i am particularly delighted because these stacks of these rice pyramids provide undisputable and unassailable evidence of significant progress under president buhari's food security initiatives. we may also recall that the anchor borrowers'programme was launched in the early days of this administration. it is therefore fitting that the unveiling of the largest rice pyramids in africa is coming right within your tenure. 3. i personally salute your vision of making agriculture one of the focal points of your administration. like the vision of great leaders that prepares countries for the unforeseen, this vision prepared us for the unanticipated impact of covid - 19 on food production. amidst its associated disruptions in production and supply chains, which led to global increase in the price of most commodities, the resilience of our farmers and the interventions of the cbn continued to ensure the provision of the needed food stock for the populace. 4. your excellency, permit me to commend the nigeria smallholder farmers and the leadership of the various commodity associations for their diligence, bravery, patriotism, and adaptability. the past few years have been quite challenging as they have battled with insurgency, banditry, lock downs and other related setbacks. indeed, we