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ECONOMY Maize farmers under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN) are set to release about 300,000 metric tonnes of maize which watchers believe will reduce the current price of maize. The huge supply boost according to stakeholders is aimed at inducing a decline in the price of the commodity to N120,000 per metric tonne from the current price of N155,000 per metric tonne. The planned release follows moves made by the critical stakeholders, working with relevant government and security agencies, to put a halt to reprehensible and speculative activities o...

By Nume Ekeghe About 300,000 metric tonnes of maize are to be released into the Nigerian market from strategic anchors under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN) next month. Owing to this, the current price of maize N155,000 per metric tonne is expected to reduce significantly. According to a statement, the planned release followed moves made by the critical stakeholders, working with relevant government and security agencies, to put a halt to reprehensible and speculative activities of middlemen and bandits respectively. With the release of 300,000 met...

The Central Bank of Nigeria (CBN), through its anchor borrowers' programme is set to release about 300,000 metric tonnes of maize into the Nigerian market by February. 

Minister of Agriculture and Rural Development, Sabo Nanono. Photo: TWITTER/FMARDNG Mr Sabo Nanono, the Minister of Agriculture and Rural Development, says there is the need for Nigerians to accord agriculture its prime position a good replacement for the dwindling crude oil. Nanono gave the advice on Owerri at a one-day workshop organised for maize growers and processors by the Maize Growers, Processors and Marketers Association of Nigeria (MAGPMAN). The News Agency of Nigeria (NAN) reports that the programme, with theme: “Post-Harvest Management of Maize Stakeholders Conference- under the ...