Story from Kenneth AFOR, Lagos
President Muhammadu Buhari on Thursday announced via his Twitter handle that he has approved the release of 30,000 tonnes of maize from the country’s grain reserves for the production of animal feeds.
This move by the government is done to cushion the high-cost poultry feed production which is being experienced by feed producers in the country.
The statement reads, “We are very mindful of the challenge of high food prices, at a time when the economy is already in a slowdown caused by the global Coronavirus situation, and are doing everything in our power to bring down the prices of food items across the country.”
Maize is the major component needed for the production of poultry feeds and if there are shortages in supply it could lead to producers spending more to get the required quantity for production and this could cause a sharp increase in prices of birds (chicken) for consumption.