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FG says Nigeria will mitigate prices of food

By Saxone Akhaine, Kaduna
04 April 2022   |   3:57 am
The Federal Government has said that the war between Ukraine and Russia, which has negative impact on global prices of grains like maize, wheat and other agricultural commodities, would not have significant effect on the country following the measures being adopted to safeguard the economy.

The Federal Government has said that the war between Ukraine and Russia, which has negative impact on global prices of grains like maize, wheat and other agricultural commodities, would not have significant effect on the country following the measures being adopted to safeguard the economy.

Specifically, the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, who unveiled the second round of 17 Maize Pyramids in Kaduna, explained that though the economic impact of the war in Ukraine was affecting the supply of grains globally, the government was determined to ensure stability of commodities in Nigeria.

According to Emefiele, “bringing recent happenings globally into perspective, two of the top 10 exporters of maize (Argentina and Brazil) experienced in 2021, while another two (Ukraine and Russia) are at war.” He pointed out that “this will certainly impact on maize supply globally and drive prices northwards.

“Consequently, we have planned a more robust and timely wet season to commence in April 2022 for maize and other key commodities like rice, wheat, cassava, sorghum and soya beans to mitigate the impending food crisis occasioned by the crisis in Russia and Ukraine.”

Besides, the CBN governor said: “In 2021, we launched the first maize pyramids in Katsina with a total of 300MT (displayed in 12 pyramids). The produce was strategically released to the market through allocation to major feed mills and large-scale poultry farms.”

According to him, “the maize revolution was birthed over six years ago under the Anchor Borrowers’ Programme (ABP), with the overall objectives of facilitating food security by increasing local production of maize and safeguarding the activities of smallholder maize farmers, among others.

Meanwhile, in his address, the President of Maize Association of Nigeria (MAAN), Dr Bello Abubakar, said: “Today’s event will also demonstrate the capacity of MAAN in mobilising Nigerian farmers to produce what can sustain us, and even export over a period of time.”

“Official unveiling of these pyramids serve as a genuine feedback to the present administration’s determination to lift many Nigerians out of extreme poverty and position agriculture as a business. To also show that MAAN is not just supporting food security but food and nutrition security with the collaboration with Harvest-Plus to promote the production and consumption of nutritious Vitamin-A maize in Nigeria.

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