Monday, June 8, 2020

BUHARICENOMICS. (Buhari Rice Economic


Hopes and  hints of stronger recovery of economy in 2020 as a result of  Nigeria's  impressive and  unprecedented  Rice  out put which was 4.9MMT  in 2019  up by 60% from  2013 but  well below local consumption of  7mmt .as at January 2020. This  was ably buoyed by boader closure coupled with Federal government and  CBN  innovation and encouragement on agricultural production and  upwardly mobile  crude oil prices.   At the  beginning of  2019, there were only 20 integrated Rice mills in the  country but these increased to  over 60 by the end of  2019 .    
  All these were  faltered due to  misplaced optimism occasioned by COVID 19. It's  hoped that the gains  made before COVID 19 Lock down will not be  reversed especially the  domaince of Nigeria in Rice production. 
 In the  face of the  significant potential  problems  (COVID 19) Induced in Agriculture and  Crude oil resources  ,public sector spending needs a rethink especially with  the  unsustainable fiscal stimulus package which shall be thrust by borrowing as a result of  downward trend in Global economy. 
  While  looking up towards better days,   the FG & CBN  has started well by  issuing out loans to various  agricultural productions , improved seedlings coupled with other farming imputs. The  interest rate on lending  is almost  a single  digit  at 9.8% it is hoped  that  this will  further  go down to enable more  positive  feedback on production. Which  will  increase the banks   good  profit  margins. 
  The  FG & CBN  must  synchronise  VALUE CHAIN DEVELOPMENT  through   HUMAN CAPITAL DEVELOPMENT. With  the Rice production growth.  This will  ensure   global Competitiveness and International Best Practices on processed Foods. eg. In Rice  milling,  trainees  shall  be  exposed  to  various  operations such as  Rice MORPHOLOGY,  Storage, Parboiling,  Milling  and  Packaging.  This  will be  followed by   Ethics of Food Processing Technology  and  practical demonstrations in various  classes of  Foods  : 

BUHARI  RICE  ECONOMY  - The  time to  start  is now  to sustain the  Nigeria's dominace in rice production. 

At WUFAS AGR0Net we are Competent and Reliable Food Processing Technologists into Human Capital Development Consultancy in Food Processing Technology enhancing Global Competitiveness and International Best Practices for the startups ,teeming youthful population and unemployed graduates. 

**  Our Success Principle  -  Salvaging Something  From  Every  Setback Has Provided a  Clue to Our Success  Potential. - In Food Processing Technology. 
Contact us.  08034064270, 08157784430.

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