Story from Ademola ADEBAYO, Abuja
About 300,000 metric tons of maize is set to be released into the Nigerian market from strategic anchors under the Anchor Borrowers’ Programme (ABP), the Central Bank of Nigeria CBN has announced.
The release, expected in February 2021, according to the National President of the Maize Association of Nigeria (MAAN) Alhaji Bello Abubakar, should drive down the cost of maize from the current N155,000 per metric ton and consequently impact feed price.
The CBN has been collaborating with the Nigeria Customs Service (NCS), in the last quarter of 2020, to facilitate import waivers for four agro-processing companies to import 262,000 tonnes of maize to bridge the shortfall in production and augment local production.
Prior to the CBN and Nigeria Customs Service (NCS) collaboration, President Muhammadu Buhari had approved the release of 30,000 tons of maize from the National Strategic Grain Reserve to support the Poultry Association of Nigeria (PAN) at a subsidised rate.
Alhaji Abubakar blamed insecurity around the major maize producing belt of Niger, Kaduna, Katsina, Zamfara and some parts of Kano for contributing to the insufficiency of the product in the market.
On his part, Edwin Uche, National President, Maize Growers Processors and Marketers Association of Nigeria (MAGPAMAN), said banditry, drought in some parts of the country in 2020 and activities of middlemen are responsible for the current high price.
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