The projected growth is a matter of concern for the federal government, which plans to stop rice imports by the end of this year to save foreign currency.
The Central Bank of Nigeria (CBN) supported the course by restricting forex for rice importation and introduced the Anchor Borrowers Programme, the Commercial Agriculture Credit Scheme (CAC) to fast-track the development of the agricultural sector; enhance national food security; reduce the cost of credit in agricultural production; increase national output; generate employment; and raise the level of foreign exchange earnings of the country.