CBN Governor Unveils Second National Maize Pyramids

CBN Governor, Mr. Godwin Emefiele has unveiled the second national maize pyramids under the MAAN-CBN Anchor Borrowers’ Programme in Kaduna State on 24th March 2022.

The maize revolution was birthed over six years ago under the Anchor Borrowers’ Programme (ABP), with the overall objectives of facilitating food security.

Prior to CBN’s initiation of the maize revolution under the Anchor Borrowers’ Programme, growth of maize production in Nigeria has been largely due to the increase in hectares of cultivated land and not the yields per hectare.

To address the yield challenge, CBN developed a framework for the participation of some seed companies in the 2021 wet season farming under the ABP, to produce hybrid seeds that will guarantee high yield for farmers under the programme.

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CBN is partnering with Flour Mills Nigeria and technical experts to introduce Good Agronomic Practices (GAP) through practical farm demonstration to farmers and extension workers, aimed at improving the yield of maize per hectare from an average of 2.5 tonnes per hectare to 6 tonnes per hectare.

The Strategic Maize Reserve (SMR) which was established in December 2020 as a short-term measure pending the revitalization of the Nigeria Commodity Exchange is meant to moderate the price of maize in the country through strategic and phased releases to millers and poultry farmers.

Central Bank of Nigeria is committed to financing over 600,000 hectares. The strategy is hinged on improving productivity by providing more funding for the anchors to enable them to utilize high quality inputs and good agronomic practices to boost output.

CBN Governor commends the Ministry of Agriculture & Rural Development, Banks, Commodity Associations and Prime Anchors for their continued support for the ongoing agricultural revolution in Nigeria.