Nigeria: Senate to Criminalise Corn Exports to Tackle Hunger

Published 2024년 12월 10일

Tridge summary

Nigeria's Senate has approved a bill to criminalize the export of large quantities of unprocessed corn in an effort to combat hunger and food insecurity, which is becoming more severe due to the country's worst cost-of-living crisis in decades, exacerbated by austerity measures and inflation. The bill, pending the president's approval, would prohibit the export of unprocessed corn in quantities starting at one metric ton, with violators facing fines or imprisonment. The United States Department of Agriculture (USDA) projects an increase in Nigeria's corn exports in the next year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Nigeria’s Senate has approved a bill criminalising the export of large quantities of unprocessed corn to address hunger in the nation. As Africa’s most populous country, Nigeria is facing its worst cost-of-living crisis in decades. The situation has deteriorated further since President Bola Tinubu implemented austerity measures, including devaluing the naira and removing a long-standing petrol subsidy, which have fueled inflation. The naira’s devaluation has also encouraged informal exports of essential commodities like corn, rice, and sorghum to neighbouring countries, where the West African CFA franc offers a more favourable exchange rate. Corn, a key staple in Nigeria, is also vital for producing animal feed, beverages, and processed flour. The United States Department of Agriculture (USDA) projects an increase in Nigeria’s corn exports, estimating 75,000 metric tons in 2024/25 compared to 50,000 metric tons in 2023/24. The Senate bill, pending the president’s approval to ...

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