Economy

Nigeria borrowed 5,000MT of grains from ECOWAS – FG

The Federal Government has said a total of 5,000 metric tonnes of assorted grains were borrowed by Nigeria from the food stock of the Economic Community of West Africa States (ECOWAS).

The Minister of State for Agriculture and Rural Development, Mustapha Baba-Shehuri, disclosed this while receiving the 3,999 tonnes of cereals donated to the Federal Government by ECOWAS with its donors and financial partners.

The minister received the 3,999 tonnes of cereals on behalf of the Federal Government at the Hotoro Grain Depot, in Kano State, according to a statement issued in Abuja on Sunday by the Federal Ministry of Agriculture and Rural Development.

He explained that to address the incessant worrying food crisis in the West African sub-region, especially in the Sahel, the heads of government of ECOWAS member states decided to establish a Regional Food Security Reserve Programme which necessitated the signing of contract agreement between ECOWAS and the ministry’s Department of Food and Strategic Reserve on July 7, 2017.

The minister said, “The government of the Federal Republic of Nigeria loaned 5,000MT of assorted grains from ECOWAS stock which was agreed to be paid back on grain for grain basis

“Modalities had been put in place to replace the ECOWAS stock before the advent of COVID-19 pandemic. That notwithstanding, I can assure you that the stock will be replaced in due course.”

On the donation by ECOWAS, the minister said it would be used to support the most vulnerable populations to help mitigate the effect of the COVID-19 pandemic in Nigeria.

Adewale Nurudeen

Recent Posts

US authorities slam Air Peace boss, Onyema, with fresh fraud charges

The Chief Executive Officer of Air Peace, Allen Onyema, has been hit with new charges…

2 years ago

Report: NUPRC has not approved $1.3bn Shell Renaissance deal

  Contrary to reports in a section of the media that the Nigerian Upstream Petroleum…

2 years ago

There’s a plan to derail Tinubu’s petroleum industry revolution

Tajudeen Suleiman It was a pleasant shock for me to read the National Bureau of…

2 years ago

NNPCL’s acquisition of OVH: Reps member, Miriam Onuoha, slams Atiku, says oil and gas sector should not be politicised

  A member of the House of Representatives, representing Isiala Mbano / Onuimo / Okigwe…

2 years ago

Fidelity Bank affirms commitment to data protection, strong corporate governance

  Leading financial institution in Nigeria, Fidelity Bank Plc, has assured its customers of unwavering…

2 years ago

NGX rates Fidelity Bank highest on corporate governance

  Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial…

2 years ago

This website uses cookies.