Close button
The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

Maize farmers secure N16 billion CBN facility


• Targets 25million Mt for 2020/2021 season
Following the ban on importation of maize by the Central Bank of Nigeria (CBN), Maize Farmers Association of Nigeria (MFAN), disclosed that it has secured N16billion credit facility from the apex bank for the 2020/2021 planting season. 

CBN in a recent memo dated July 13th, had directed all authorized dealers to discontinue processing of the Form M requesting for the importation of Corn with immediate effect, in effort to increase local production and stimulate rapid economic recovery. 

Commending the ban on importation of the grain, the National President, MFAN, Dr Bello Abubakar, during a news conference yesterday, in Abuja, disclosed that they have secured funds from the CBN, which would be distributed to about 40,000 members nationwide in the form of agro inputs like fertilizers, seeds, and agro-chemicals. 

He further said to boost maize production during the 2020 wet season; the Association had acquired over 250,000 hectares of land, which will double their output this year, especially as the CBN has also supported them with the provision of high yielding maize seeds. 


According to Abubakar, the target is to produce about 25 million metric tonnes of maize this year, to meet the 18million MT annual demand in Nigeria.

He noted that due to the COVID-19 pandemic, and the insecurity in the country they might not be able to meet up to 20 or 30 percent of the target.

He however appealed to states with comparative advantage in maize production to partner with the Association, by providing large area of arable land for cultivation, which will create more jobs and make life more meaning for the farmers. 

Abubakar however charged merchants not to take undue advantage of the ban on importation to increase the price of the grains assuring that farmers would maintain reasonable price. 

He also tasked the federal government to reactivate the Guarantee Minimum price to shield farmers from market shocks and give them the confidence that no matter the cost of production and market force, they will not run at a loss, and the end users would have instrument for price bargain. 

Abubakar, while reacting to complaints by poultry farmers on their inability to get maize, said the Poultry Association of Nigeria has officially written to them that demanding for 1.5million MT of maize between now and December, and would fashion out ways to get the maize across to them after a meeting with the Federal Ministry of Agriculture. 


Receive News Alerts on Whatsapp: +2348136370421

No comments yet