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03/10/2026
03/10/2026

Let me show you something heartbreaking about Abakaliki Rice Mill.

Before I left Abakaliki, I visited the Rice Mill and the condition of the place broke my heart. I had pity on the car we went there with but it wasn’t anything compared to the sadness I felt when I saw the condition of the women that work there. The gate and the road looked like the path to a village shrine. Yet the rice that comes out of that place is the most famous rice in Nigeria.

Let me show you, with numbers, what this government is walking past every day and I’m hoping they will see this and do better.

The Abakaliki Rice Mill has operated since 1967. It's arguably the largest rice mill in Nigeria, with over 8,000 workers across the value chain. It processes up to 11,000 metric tonnes of rice a month.

Do the arithmetic. 11,000 tonnes a month is 132,000 tonnes a year, or about 2.64 million 50kg bags. This year, a 50kg bag sold for between N65,000 and N80,000. Even at the lowest price, that's about N171.6 billion worth of rice passing through that one mill every year.

Ebonyi's entire internally generated revenue in 2025 was N17.18 billion. The rice moving through a mill in that deplorable condition is worth about 10 times everything our government earns on its own.

Back in 2016, the then Minister of Agriculture, Audu Ogbeh, said Ebonyi would one day earn N6 to N7 billion monthly from supplying local rice. Ten years later, that day hasn't come.

Now, we all know that Nigeria doesn't produce enough rice. USDA data put Nigeria's milled rice production at 5.23 million tonnes against consumption of more than 7.6 million tonnes. That's a gap of about 2.4 million tonnes every year.

To fill it, Nigeria spends an estimated $2 billion a year importing rice. In 2025, the country spent a record N7.65 trillion importing food and beverages.

Think about that. A hungry national market is sending billions of dollars abroad for a product that Ebonyi is famous for producing. If Ebonyi supplied just 10 per cent of that gap, about 237,000 tonnes, it would be selling roughly N308 billion worth of rice a year. That's 18 times our IGR.

Ebonyi covers 6,400 square kilometres. The Netherlands as a country covers less than 42,000 square kilometres, only about six and a half times Ebonyi. Yet it's the world's second-largest exporter of agricultural products by value, behind only the United States. In 2025, it exported €137.5 billion in agricultural goods, €88.4 billion of which was produced or processed in the Netherlands.

Now scale that down. If Ebonyi produced just 1 per cent of what the Netherlands produces per square kilometre, our farm exports would be worth about €135 million a year. At today's exchange rates, that's over N200 billion, more than 12 times our IGR.

The Dutch didn't get there with flyovers. They got there with greenhouses, research, technology and logistics.

Yes, the mill is privately owned by millers and cooperatives. The government's role? It collects royalties and levies from them.

So the government takes money from the mill. What does the mill get back?

No power. Each cluster of up to 14 machines burns about 109,200 litres of diesel a year, costing N136.5 million.

No safety. Thousands of women work in a permanent haze of rice dust and machine smoke without protective gear. Universities had to run a free outreach for workers with respiratory symptoms. No good road too. I saw it myself.

The Elechi administration built three modern rice mills, at Ikwo, Iboko and Oso Edda. By 2018, The Sun reported, two of them had remained idle since installation.

In 2018, Umahi's government announced three new mills of three tonnes per hour capacity across the three zones. Where are they today? What are they producing?

Around 2019, the state promised to modernise the Abakaliki Rice Mill with new machines, water, good roads and better buildings. What happened to that promise?

The state said it acquired 250,000 hectares of arable land and trained over 540,000 farmers with a N2 billion commercial loan, targeting over 500,000 tonnes of rice. Estimates of actual production since then range from 134,000 tonnes to 260,000 tonnes.

The state acquired a 5.5-megawatt biomass plant from Germany to turn rice husks into electricity. Yet the mill still runs on diesel, and women still sift through husk heaps by hand.

Over N36 billion went into building an airport, and another N17.3 billion went into fixing its runway. That's N53.3 billion for an airport that has stayed inactive for over 1,200 days since it was commissioned.

The Vanco flyover is now described as a N28.5 billion project.

For comparison, in 2017 a private company built a N10 billion rice mill in Kebbi with a capacity of 100,000 tonnes a year, plus storage for 30,000 tonnes. Prices have risen since then. But even so, the money sunk into one airport and one flyover could have built modern mills, powered the Abakaliki cluster, and paved the farm roads that farmers walk every season.

Instead, we built flyovers on lonely roads, while farmers carry paddy on their heads through mud.

How much has the state collected in levies from the Abakaliki Rice Mill in the last 10 years, and what has been spent on the mill in return?

What happened to the three Elechi-era mills and the three Umahi-era mills? Are they working, and if not, why not?

Where is the 5.5-megawatt biomass plant, and why doesn't it power the mill?

What happened to the 250,000 hectares and the target of 500,000 tonnes of rice?

Why does a state with the most famous rice in Nigeria have a rice mill with such a deplorable condition, but an airport without planes?

Ebonyi isn't poor because God forgot us. Ebonyi is poor because our leaders keep building things to look at, instead of things that make money.

The government of Rt. Hon. Francis Ogbonna Nwifuru can turn this around for the good of the people and his government. Otherwise, let us continue to waste the money we do not have on things we do not need.

-KAA

RESOURCEFULNESS: FIND A WAYYou may not have everything you need right now.But ask yourself:What can I do with what I alr...
03/10/2026

RESOURCEFULNESS: FIND A WAY

You may not have everything you need right now.

But ask yourself:
What can I do with what I already have?

Sometimes progress starts with creativity,
not money.

Use your skills.
Use your connections.
Use your knowledge.
Start where you are.

A resourceful mind can create opportunities
where others see limitations.

Let your glow reach
ADA AMUDA IDZEM TV

Happy birthday to the pioneer of Orring historical society. Peter Okey Many more years to celebrate in good health and a...
03/10/2026

Happy birthday to the pioneer of Orring historical society. Peter Okey
Many more years to celebrate in good health and affluence.

03/10/2026

Two days ago, I had a professional examination to write, and coincidentally, the examination venue was in UNILAG, the same university where I studied Accounting.

So, naturally, being back there brought back a lot of memories.

My exam was in the afternoon, but I arrived early. After sitting in my car for a while, I got bored and decided to walk around the school.

I went into the library to read for a while, visited my faculty, and eventually came across a classroom.

From the courses I knew were usually taught there, I figured the students were probably studying Accounting, Business Administration or Economics.

When I walked in
There was no lecturer inside.
I saw the class governor and asked:
“Sorry, which class is this?”

He told me.
It was a 300-level class.

Then I said:
“Can I have a few minutes with you guys? I want to teach you something.”
The response from the Governor?
“No, no, no. We don't have time.”
And immediately other Students join the Class Governor shouting:
"We don't want your lecture Oga"

I explained to them that I was a past student and only wanted a few minutes to teach them something about finance.
Still no.
The class and the governor insisted they didn't need it.
So I said okay.
I wasn't going to force myself on anybody.
I turned around and started leaving.

Then suddenly, one of the students shouted:
“IKING FERRY!”
I stopped.
“Somebody knows me?”
He shouted again:
“I know you! This is the guy on Facebook”

Then he asked if he could take a picture with me.
I said yes.
And guess what happened next?
The same class Governor who had just rejected me suddenly rushed back and said:
“Ah, sorry boss! I'm sorry. I didn't know it was you. Please, you can take the class.”

Me?
I laughed.
He explained that he had actually read all my posts, in fact he also joined the Fokona Financial Literacy Community, but never knew the person standing in front of him was the same Iking Ferry that built Fokona he knew online.

And that's when I realized..
HOW MANY TIMES DO WE REJECT KNOWLEDGE SIMPLY BECAUSE WE DON'T RECOGNIZE THE PERSON BRINGING IT?

Think about it.
I wasn't asking them for money.
I wasn't selling them anything.
I wasn't asking them to subscribe to anything.
I simply wanted to teach them about financial literacy.

I wanted to talk about money management, investing, the capital market, the money market and some of the financial lessons I have learned from experience.
But because they didn't know me, they didn't want to listen.

The moment they discovered that I was “Iking Ferry from Facebook,” suddenly what I had to say became valuable.

And honestly, I don't blame them completely.
Because remove social media.
Remove the followers.
Remove everything people know about me online.
On a normal day, I am just another person.
You can meet me anywhere.
I don't wear a suit Offline, not even on board meeting.
You can sit beside me.
You can ask me any question.

And I am not going to introduce myself by saying:
“Hello, I'm Iking Ferry the founder of Fokona. I have this number of followers.”
No.
I'm just Ikechukwu.
And that is the lesson.

DON'T WAIT UNTIL SOMEBODY IS FAMOUS BEFORE YOU LISTEN TO THEM.

If someone approaches you and says:
“I want to teach you something.”
And the person isn't asking you for money.
The person isn't demanding anything from you.
The person simply wants to share knowledge or experience with you...
LISTEN FIRST.
You don't have to agree with everything.
You don't have to believe everything immediately.
You can question it.
You can research it.
You can verify it.
But listen first.

Eventually, I left that classroom.
I entered another class where students from different departments were waiting for their tutorial teacher.

This time, I taught them.
We talked about money.
We talked about managing finances.
We Talked about Black Tax
We talked about investing.
We talked about the capital market and the money market.
I also taught them how to build a Generational Wealth as a young man battling with black Tax in Nigeria.
I shared some of the lessons I wish somebody had taught me much earlier.
And I left.

But that experience stayed with me.
Because it reminded me:
KNOWLEDGE IS ONLY VALUABLE TO YOU IF YOU ARE WILLING TO RECEIVE IT.
You can literally be sitting in front of an opportunity and miss it because you don't recognize what it looks like.

You can reject a mentor because they don't look successful enough.
You can ignore someone's advice because they are younger than you.
You can dismiss someone's idea because they don't have the title you expect.
And years later, you may realize:
“That person was actually trying to help me.”

My name is Iking Ferry,
Founder, Pulseford Business School
A Financial Literacy Advocate and Investment Strategist on a mission to build 10 million financially free Nigerians via Fokona with the right knowledge.

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No. 8 Ugochukwu Lane Nkpor
Nkpor
420001

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