Strong indications have emerged that the Bank of Agriculture (BoA) has technically become unsustainable and riddled with bad debt to the tune of N77.1 billion. This is amid failed restructuring and recapitalisation plans that had been proposed since 2019.
Hot on the heels of the proclamation by the southern governors to ban open grazing, as already legally done in Benue, Oyo and other states of the federation with enabling laws
List why ban won’t work
Agro-industrial users of maize have faulted the insistence of the Central Bank of Nigeria (CBN) to stop and frustrate importation of maize into the country despite unfavourable conditions for local production of the crop and a shortfall of over 5 million metric tonnes. x
The Poultry Association of Nigeria (PAN), major commercial poultry farmers and feed millers, in different interviews with The Guardian, lamented the high cost of maize, which is a major ingredient in animal feeds.
They argued that banning the importation of maize and soya beans unreasonably would compound the country’s economic woes as poultry, fishery and feed industries would collapse, which in turn would worsen unemployment, aggravate poverty and hamper foreign investments in the sectors.