The Central Bank of Nigeria on Monday disclosed that it is set to release about 300,000 metric tons of maize into the country’s market in February.
The Central Bank of Nigeria also mentioned that the release of the maize would be done under the Anchor Borrowers’ program and this move is expected to reduce the price of the commodity, raise demand, and improve farmers’ profits.
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The planned release by the CBN follows efforts by critical stakeholders working with relevant government and security agencies, to end the challenges caused by middlemen and bandits in accessing the product.
Maize currently sells at N155,000 per metric ton.