May 15, 2019

Nigeria saves $21bn on imports–FG

As FEC approves N9. 47bn for purchase of grains

By Johnbosco Agbakwuru


ABUJA-THE Federal Government on Wednesday said that the country has saved $21 billion on imports in the last three and half years.

The Minister of Agriculture and Natural Resources, Chief Audu Ogbe disclosed this while briefing State House Correspondents after the weekly Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

The Minister also announced that the FEC approved N9. 47 billion for the purchase of grains which would be stored in Silos so as to ensure that there will not be a shortage of grains in case of any disaster.


According to him, “We have a memo approved in council for the purchase of grains to reinforce the grains reserve. Everywhere in the world Silos are owned by the government into which they purchase grains at the end of harvest. The average is usually between two and three percent of all grains grown.

“In this case, we have got approval to buy sixty-one thousand tons of maize, millet, and Sogum and the purchasing will begin shortly.

“We also informed the council of the problem we have with Nigeria grains especially maize, sesame, and groundnut. An infestation called aflatoxin which the Minister of Health confirmed is a very big threat to the liver and the kidney of most consumers.

“Luckily, IITA has found a product which they produce in large quantities which they now send to Africa for treating the farms, the Silos and the sacks in which we put the grains to eliminate aflatoxin.

” The product which they produce is called afflasafe. We buy the grains, treat the Silos and store the grains in Silos so that if there is emergency anywhere in the country, or there is a shortage, a flood and there is no food, we can draw from what we have in the Silos. ”

Details later