Young farmers knock FG over maize import waiver

The Nigeria Young Farmers Network (NYFN) has condemned the federal government’s decision to allow maize imports into the country saying it will cripple the investments of their over one million members. Recall in July 2020, the Central Bank of Nigeria (CBN) directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn […]

The Nigeria Young Farmers Network (NYFN) has condemned the federal government’s decision to allow maize imports into the country saying it will cripple the investments of their over one million members.

Recall in July 2020, the Central Bank of Nigeria (CBN) directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation.

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However, CBN rescinded the Order following national shortage of corn.

The Nigeria Customs Service (NCS) in a circular confirmed that four firms were granted waivers to import 262,000 tonnes of maize.

The companies are Wacot Limited, Chi Farms Limited, Crown Flour Mills Limited and Premier Feeds Company Limited.

But the group, through its Director General/National Coordinator of the network, Promise Amahah, said the decision will suffocate farmers, adding that the companies could have supported the young farmers to produce more maize.

“The sheer cost of providing forex for the selected companies to import maize will be sufficient to mobilize 10 million young farmers to produce maize nationwide.”

It also noted that support to young farmers will lead to the conservation of Nigeria’s foreign reserve which has been severely stressed lately due to low oil revenues.

“We want to categorically state and clarify that the Nigeria Young Farmers Network is totally against full or partial importation of crops into the country.”