Nigeria’s Grains Reserves Down to 50,000MT as FG Releases Commodities to Vulnerable Nigerians

James Emejo, business correspondent of the Nigerian ThisDay news media in the latest article covered about recent government actions taken to safeguard and protect vulnerable community of the country.

The Minister of Agriculture and Rural Development, Muhammad Abubakar launched emergency distribution of 40,000 metric tons of grains from National Strategic Grains Reserves to vulnerable Nigerians, poultry associations, feed millers and federal ministries. This emergency release of commodities caused by price rising of food items and aimed to mitigate its adverse impact. “The depletion of the food reserves brings its current value to about 50,000MT from about 90,000MT it was previously” – noted author.

 

The government is planning to allocate funding for replenishing of the states’ food reserves. This measures, according to the Minister intended to lessen the burden of food price soaring across the country, particularly during Ramadan, Easter and Sallah festivities. Despite these measures were temporary, Nigerian government will continue to adopt steps aimed at the substantial easing of commodity prices.

 

You may find source and link to original article here:

 

https://www.thisdaylive.com/index.php/2022/04/15/nigerias-grains-reserves-down-to-50000mt-as-fg-releases-commodities-to-vulnerable-nigerians/