Nigeria: CBN Making Maize Affordable

21 January 2021

Recently, the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, initiated moves to crash the price of maize, a major staple on the dining table of most Nigerians. Part of this audacious measure is the plan to release about 300,000 metric tonnes of the commodity into the market from the strategic reserve of the Anchor Borrowers Programme (ABP).

The plan by the CBN is a follow up to the move by relevant critical stakeholders, working with relevant government and security agencies to put a halt to the inanities of speculators and other middlemen who have been manipulating the market, creating artificial scarcity in the process, hiking prices and making the commodity expensive and almost unaffordable.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.