ADVERTISEMENT
The Sun Nigeria
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
Home Business

CBN facilitates release of 50,000MT of maize

4th March 2021
in Business
0
Foreign tax: controversy trails CBN’s unremitted $3.3bn 
0
SHARES
143
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has made good its pledge to release 50,000 metric tonnes of maize into the Nigerian market to bridge shortages occasioned by undersupply of the grain.

The bank’s February 2021 release of maize in fulfilment of its pledge to reduce the price of the commodity, was done through the Anchor Borrowers’ Programme (ABP) to major poultry feed producers and poultry producers in the country.

The CBN facilitated release of the 50,000 metric tonnes of maize in the second week of February, has made an impact as the maize market has recorded a reduction in price from N200,000.00 per metric tonnes to about N180,000.00 per metric tonnes. It is still anticipated that the current price will further crash.

Major beneficiaries of the February release include: Premier Flour Mills, Crown – Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms as well as the South West, South-South, North West and North Central chapters of the Poultry Association of Nigeria (PAN).

The benefiting companies represent the major players in the poultry value chain in the country.

The release of the 50,000 metric tonnes of Maize forestall the pressure and reduce the activities of intermediaries (middlemen) in the Nigerian Maize market.

The Central Bank of Nigeria had in January this year, announced the release 300,000 metric tonnes of maize into the Nigerian maize market.  This is to bridge the shortfall in production and augment local production of the commodity.

The current shortfall in maize available in the market, is attributed to activities of banditry, drought in some parts of the country last year, activities of hoarders and middlemen as well as insecurity around the major maize producing belt of Niger, Kaduna, Katsina, Zamfara and part of Kano states.

As part of the bank’s financing framework, the CBN facilitates the funding of maize farmers and processors through the Anchor Borrowers’ Programme (ABP) Commodity Association, Private/Prime Anchors, State Governments, Maize Aggregation Scheme (MAS), and the Commercial Agricultural Credit Scheme (CACS).

Tags: central bank of nigeria (cbn)nigerian market
Rapheal

Rapheal

Related Posts

NNPC, partners sign $1.5 billion Port Harcourt refinery rehabilitation deal 
Business

NNPC, partners sign $1.5 billion Port Harcourt refinery rehabilitation deal 

6th April 2021
We are fixing infrastructure to attract investments -  Kwara Govt
Business

We are fixing infrastructure to attract investments –  Kwara Govt

6th April 2021
Azman Air sacks official over damning NCAA audit report
Business

Azman Air sacks official over damning NCAA audit report

6th April 2021
Next Post
Fuel queues return as retail price hits N150/L

Fuel scarcity: Marketers raise ex-depot price to N163/litre

Air Peace takes delivery of ERJ-145 aircraft, 2 new E195-E2s expected

Air Peace resumes Accra flights March 15, set for Ilorin kick-off

Multi-billon naira estates abandoned in Abuja by owners –ICPC

ICPC urges MDAs to help curb Nigeria’s $10bn IFFs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

With technology, job losses, new opportunities inevitable- Buhari

Level of destruction at Imo correctional center, sad – Osinbajo 

NSE resumes Easter holidays with N78bn loss

WASSCE 2021: 30 percent of private candidates obtain 5 credits, including English, Math

Buhari loses official driver 

Breaking:Again, gunmen attack another police station in Imo

Trending

Gunmen invade Niger community, kill 12, injure 15 as scores flee
National

Bandits kill 8, injure 4 in Kaduna

6th April 2021
0

The Kaduna State Government, says suspected bandits have killed eight people and injured four in separate attacks...

Kogi results update

Kogi Govt, Police Differ Over Arrest of Anti -Buhari Protesters

6th April 2021
COVID-19: Dr. Cyprian Ngong gets first vaccine as FG flags off vaccination 

Kogi takes delivery of 16,900 doses of COVID-19 vaccines

6th April 2021
The Buhari presidency

With technology, job losses, new opportunities inevitable- Buhari

6th April 2021
Alleged travails: Cleric urges Osinbajo to speak out now 

Level of destruction at Imo correctional center, sad – Osinbajo 

6th April 2021

Follow us on social media:

Categories

  • Abuja Metro
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • Home
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist