Experts flay forex ban without maize plan

Stakeholders in the agricultural sector are expressing divergent views on the recent foreign exchange restriction imposed on maize importation by the Central Bank of Nigeria. While farmers welcome the development, assuring that they have the capacity to produce enough to meet local demand, some experts in the sector believe the ban on its own may not address the problems associated with maize production in Nigeria without a comprehensive national corn plan. Over the last few weeks, maize, a major staple crop in Nigeria, has been constantly in the news over rising prices, scarcity and the recent moves to check its importation. The national demand for maize is estimated at 15 to 18 million metric tonnes, 60 per cent of that demand is consumed by the poultry subsector alone while other users utilise the remaining 40 per cent. However, many stakeholders describe the statistics on domestic production as sometimes controversial because most commodity associations tend to praise their ...