Nigeria to import N72.6bn maize

Nigeria is in need of 550,000 tons of maize valued at N72.6billion ($201.8million) to meet domestic demand before the end of the year, New Telegraph has learnt.

Last year, a total of 400,000 of the grain were imported to the country from Russia and Brazil.

It was gathered that local production had been increased from 10.5million tons in 2016 to 11million tons in 2017/2018 season despite the invasion of armyworms.

However, price of corn per metric ton has risen from $170 to $367 at the international market, while local price has reached N138, 000 per ton.

New Telegraph, August 15, 2018

 

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