CBN heightens move to curb maize import

Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele has said the bank will resist the importation of maize into Nigeria.

The apex bank governor also told the youths to embrace agriculture as the bank was willing to support them.

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Emefiele made the declaration in Katsina on Thursday, during the unveiling of the first maize pyramid and flag-off of the 2021 maize wet season farming under the CBN-Maize Association of Nigeria (MAAN) Anchor Borrowers’ Programme.

Emefiele said the CBN would resist attempts by those who sought to continually import maize into the country, noting that maize farmers in Nigeria had what it took to close the maize demand gap of over 4.5 million metric tons in the country.

“With over 50,000 bags of maize available on this ground, and others aggregated across the country, maize farmers are sending a resounding message that “we can grow enough maize to meet the country’s demand,” he declared.

“The CBN will not only provide access to credit for these youths but will also provide guarantees that their produce will be purchased by a prime anchor at agreed prices,” he said.

He explained that the maize unveiled at the ceremony would be sold to reputable feed processors, adding that it would in turn impact positively on current poultry feed prices, as over 60 per cent of maize produced in the country was used for producing poultry feed.

He said the bank had released 100,000 metric tons of maize to the market, through the major producers.

Also speaking, Katsina State Governor, Alhaji Aminu Bello Masari, said the state had suffered a setback in agriculture as over 60,000 hectares of farmlands were uncultivated due to insurgency, which hindered farmers from gaining access to their means of livelihood.