Nigeria: Government Plans Buy-Back From Farmers to
Boost Food Security
The Federal Government has disclosed plans to commence buy-back from farmers at
a guaranteed minimum price, to check rising prices of food items in the market.
The Minister of
Agriculture and Rural Development, Audu Ogbeh, who disclosed this to
journalists in Abuja said that on a daily basis, 700 trailer loads of grains
left Nigerian markets for Mali, Mauritania, Niger Republic, Chad, and the
Central Africa Republic.
Ogbeh explained that
with the devaluation of the naira, it was cheaper to buy from the Nigerian
markets and sell in other neighbouring countries.
To prevent hunger, the
government has started buying and storing grains in silos with a plan to
release them by February when farmers may have exhausted their stock.
"We are buying a
lot of grains now because there is a surplus harvest in many states, including
Kebbi, Niger Zamfara and Anambra. We also guarantee a minimum price that will
be announced shortly, because up to 700 trucks daily are leaving Nigeria with
grains heading for Mali, Mauritania, Niger, Chad and the Central Africa
Republic. Everyday, everything goes there.
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