BusinessDay
Nigeria's leading finance and market intelligence news report.

Nigeria’s food reserves are almost empty

AT the beginning of 2020, Nigeria had about 100,000 metric tonnes (MT) of different grains in the strategic food reserves out of which 70,000MT was distributed as palliatives, leaving 30,000MT in reserves.

President Buhari’s announcement via his official Twitter handle that 30,000MT of grains be made available to animal feed producers and to curb rising food prices, suggests Nigeria will be drawing down its entire reserves.

Curiously, Poultry farmers who appeared to be the targeted beneficiaries say only 5,000MT of Maize was approved for release to them. So, did the president make an error with his announcement or is the food reserve about to be emptied?

Whatsapp mobile

Get real time updates directly on you device, subscribe now.