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FG Takes Delivery of 262,000 MT Imported Maize

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Agriculture - Investors King

FG Imports 262,000 MT of Maize Despite Efforts to Improve Local Production

Despite Federal Government’s diversification plans and made in Nigeria campaign amid border closure to encourage local production and improve new job creation, the Federal Government has taken delivery of 262,000 metric tonnes of maize imported to complement local production.

According to the Poultry Association of Nigeria, the plunged in local production due to the devastating impact of COVID-19 on the nation compounded their challenges.

In a statement issued on Tuesday by the association, four companies, Premier Feeds, Mills Wacot, Chi Farms and Crown Flour, were approved to import in order to augment dwindling local production of maize.

PAN President, Ezekiel Ibrahim, who confirmed the arrival of the 262,000 metric tones, said the CBN’s directive aimed at closing the supply gap, adding that the association is in support of the decision.

He explained, “As a necessary evil, the CBN approved import licences to some members of our association so that the industry will not be allowed to close down.

“The gesture has greatly helped the poultry industry to continue with production before the harvest season, which will be around November 2020.”

Blessing Alawode, the Chairperson, Ogun State, PAN, said the quantity imported is not enough to meet a month demand, it was just to help them survive for a while.

The 262,000 metric tonnes of maize is to help us survive for a while. It is not even enough for a month. This is just to alleviate the crisis. Many farms have closed down because of the crisis we have faced recently,” she stated.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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