FG Purchases 58,500 Tons of Milled Rice to Stabilize Food Markets
The Federal Government has announced its purchase of 58,500 tons of milled rice from the Rice Farmers Association to stabilize food markets. He stated this during a media chat with newsmen in Abuja.
The Agriculture Minister Sen. Abubakar Kyari also urged the World Food Program to avoid buying food from local markets, as it could exacerbate the current food inflation. Kyari said the government’s intervention will support low-income families and ensure stability in the market.
Speaking further he said, “What we did not want to do, was to get to market and purchase foodstuff, we have appealed to the World Food Program (WFP), which is a United Nations Agency, not to make bulk purchases from the market so as not to exacerbate the food price inflation that we have now”
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N100 billion fertiliser donation from the CBN
The Minister further noted that the fertiliser donation from the CBN will in no small measure enhance food production and price stabilisation in the industry. He noted that the handover letter of the donations had been received by the Ministry and distribution of the fertilisers would commence soon.
He said, “As soon as we get the locations which I am sure are spread across the country, we will swing into action”
The minister also highlighted those 500 tractors, assembled by the John Deere Group, are to be delivered to the federal government, aiming to boost mechanized agriculture, enhance productivity, and secure food and nutrition.
He mentioned that the initial batch of 500 tractors is expected by the end of May, with additional deliveries in September 2024.
Furthermore, he confirmed the commitment to meet the annual goal of 2,000 tractors over the next five years, as agreed in the Memorandum of Understanding (MoU) with the Ministry.
