Agribusiness: Maize farmers, processors condemn calls for maize importation
On
Assures production of 25 million metric tonnes by ending of 2021
By Gabriel Ewepu – Abuja
Maize farmers and processors under the auspices of Maize Association of Nigeria, MAAN, Maize Growers, Farmers and Manufacturers Association of Nigeria, MAGFAMAN, on Tuesday, condemned calls for maize importation into the country.
This was stated at a press conference by the National Presidents of the two associations, Dr Bello Abubakar, and Dr Edwin Uche, respectively.
Abubakar in his address pointed that the call was made by Poultry Association of Nigeria, PAN, seeking authorized dealers and the general public to import maize grain from the official foreign exchange market.
The Central Bank of Nigeria (CBN) has announced that about 300,000 metric tonnes of maize are ready for supply from strategic anchors under the Anchor Borrowers’ Programme.
ECONOMY
Maize farmers under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN) are set to release about 300,000 metric tonnes of maize which watchers believe will reduce the current price of maize.
The huge supply boost according to stakeholders is aimed at inducing a decline in the price of the commodity to N120,000 per metric tonne from the current price of N155,000 per metric tonne.
The planned release follows moves made by the critical stakeholders, working with relevant government and security agencies, to put a halt to reprehensible and speculative activities of middlemen and bandits respectively.
With the release of 300,000 metric tonnes in February 2021, it is expected that the prices of maize in the Nigerian market will drop significantly, thereby increasing demand for the crop and ultimately enhancing the gains of maize farmers. Prior to the Central Bank of Nigeria and Nigeria Custom Service collaboration, President Muhammadu Buhari had approve
By Nume Ekeghe
About 300,000 metric tonnes of maize are to be released into the Nigerian market from strategic anchors under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN) next month.
Owing to this, the current price of maize N155,000 per metric tonne is expected to reduce significantly.
According to a statement, the planned release followed moves made by the critical stakeholders, working with relevant government and security agencies, to put a halt to reprehensible and speculative activities of middlemen and bandits respectively.
With the release of 300,000 metric tonnes in February 2021, it is expected that the prices of maize in the Nigerian market will drop significantly, thereby increasing demand for the crop and ultimately enhancing the gains of maize farmers.