SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home Trending News

The 4 Million Metric Tonnes Maize Supply Gap Has Been Closed Through Local Production- FG

Blessing Osazuwa by Blessing Osazuwa
November 15, 2021
in Trending News
0
The 4 Million Metric Tonnes Maize Supply Gap Has Been Closed Through Local Production- FG
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Federal Government has said that 4 million metric tonnes maize supply gap has been closed through the domestic production of the commodity by local farmers.

Join our communityJoin our communityJoin our community

This appears to be a boost to federal government’s efforts through various policies aimed at significantly improving local production of maize as well as meeting domestic demand of the product.

This was made known by the Maize Value Chain Coordinator of the Federal Ministry of Agriculture and Rural Development, Adeleke Mufutau, at an event organized by HarvestPlus Nigeria in Abuja, on the importance of vitamin A maize.

Mufutau said “It is the Maize Association of Nigeria, which has a large number of farmers who produce this maize, specifically vitamin A maize.

“Maize is no longer in short supply in Nigeria. Sequel to COVID-19, our production was about 15.5 million metric tonnes and the demand for maize grains in Nigeria was about 18.5 million metric tonnes.

“That was before the outbreak of COVID-19 in 2019. But the good news is that this gap has been closed and farmers are working hard to maintain this feat.”

Mufutau, however, noted that the challenge at the moment was how vitamin A maize grains would be utilised by processors, poultry farmers, flour mills and other small-scale industries, considering the nutrients in the crop.

Recall that in July 2020, the CBN included maize importation to its list of 41 items banned from assessing forex at the official market as it directed all banks/authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation into the country.

The apex bank in its circular said that this measure was aimed at increasing local production of the commodity, stimulating a rapid economic recovery, safeguarding rural livelihoods and increasing jobs.

Also in July 2021, the CBN moved to crash the price of maize as it has approved the release of 50,000 metric tonnes of maize to 12 major producers, from the strategic maize reserve (SMR) under its Anchor Borrowers’ Programme (ABP).

The apex bank said that the release was to enable moderation and price control in the Nigerian market adding that the action, the third of such releases to the companies, was intended to check activities of middlemen that cause hoarding and artificial scarcity.

Tags: Adeleke MufutauAnchor Borrowers’ Programme (ABP)Central Bank of NigeriaHarvestPlus NigeriaLocal food productionMaizemaize supplyMaize Value Chain Coordinator of the Federal Ministry of Agriculture and Rural DevelopmentNigerian entrepreneursNigerian farmersSmartpreneurstrategic maize reservevitamin A maize.
Previous Post

FG To Standardise Aba-Made Products To Meet Global Market Requirements

Next Post

How You Can Access And Qualify For DBN Loans

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Win Free Product Shoot In the #CaptureMyBusiness Challenge
Trending News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

by Blessing Osazuwa
March 24, 2023
0

Smartpreneur, in partnership with Emblue Space and Studios, is offering an opportunity for female business owners to take their businesses...

Read more
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31
Trending News

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

by Ruth Okwumbu-Imafidon
March 24, 2023
0

In today's fast-paced and rapidly changing economy in the country and the globe, it has become more important for today’s...

Read more
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
The New CBN Cash Withdrawal Policy; What will happen to MSMEs now?
Trending News

CBN Increases Lending Rate to 18%

by Ruth Okwumbu-Imafidon
March 22, 2023
0

In an aggressive push to contain the nation’s inflationary pressure, the Central Bank of Nigeria on Tuesday raised its benchmark...

Read more
NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes
Trending News

NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes

by Ruth Okwumbu-Imafidon
March 20, 2023
0

The Nigerian Communications Commission (NCC) has directed all mobile network operators (MNOs) to commence the implementation of the approved harmonized...

Read more
Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion
Trending News

Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion

by Ruth Okwumbu-Imafidon
March 20, 2023
0

Oyeyemi Kale, former statistician-general of the federation, says Nigeria’s gross domestic product (GDP) would contract in the first quarter (Q1)...

Read more
50,000 African Women to Benefit from $100m AfriLabs Business Grant
Trending News

50,000 African Women to Benefit from $100m AfriLabs Business Grant

by Ruth Okwumbu-Imafidon
March 17, 2023
0

ne of the largest communities of innovation enablers, AfriLabs, has announced that it would be supporting 50,000 African women through...

Read more
Load More
Next Post
How You Can Access And Qualify For DBN Loans

How You Can Access And Qualify For DBN Loans

Please login to join discussion

Recent News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

Win Free Product Shoot In the #CaptureMyBusiness Challenge

March 24, 2023
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

March 24, 2023
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

March 22, 2023
The Power of High-Quality Product Photos for Boosting Your Ecommerce Site's Success

High-Quality Photos: The power of visuals in Boosting Your Ecommerce Business

March 22, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur