Flour millers, wheat farmers peg wheat price

The flour millers association of Nigeria (FMAN) and the wheat farmers Association of Nigeria have signed a memorandum of understanding to peg the price of wheat at N140,000 per ton for the first year. Minister of State for agriculture and rural development, senator Heineken Lokpobiri, said at the ceremony in Abuja Tuesday, that the ministry […]

The flour millers association of Nigeria (FMAN) and the wheat farmers Association of Nigeria have signed a memorandum of understanding to peg the price of wheat at N140,000 per ton for the first year.
Minister of State for agriculture and rural development, senator Heineken Lokpobiri, said at the ceremony in Abuja Tuesday, that the ministry was working tirelessly to ensure that the wheat value chain receives the desire attention in order to meet the nation domestic need.
Mr Lanre Jaiyeola, the Managing Director,  Honeywell flour Mills and Vice chairman Flour Millers Association told journalists after the signing ceremony that the country consumes about 4.5 million metric tonnes of flour while the farmers  are expected to produce  only 120,000 metric tons, which is a long way to go.
“I can tell you authoritatively that imported wheat today will reach our silos at just about half that amount. So this is our own way of not just making assurances to wheat farmers in Nigeria, but also a commitment, a sacrifice on our part to ensure that this initiative succeed that is why we are ready to pick up everything that is produced locally double the price of imported ones,” FMAN Vice president said.
To close the huge gap, FMAN said they are supporting the Lake Chad Research Institute, Maiduguri and the wheat farmers with necessary inputs for farming and research.