Commodity Development Initiative: Maize

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Commodity Development Initiative | Cassava | Cocoa| Cotton | Fishery | Livestock and Dairy | Maize | Oil Palm | Poultry | Rice| Soya Bean | Tomatoes | Wheat

Overview

Nigeria is said to be the largest producer of maize in sub Saharan Africa, churning out about over 11 million metric tonnes per annum to meet a total national demand of 15.5 million metric tonnes. The country however still has a deficit of about 4.5 million metric tonnes currently bridged through importation.

Objective of the Initiative

The CBN Anchor Borrowers' Programme (ABP) launched in 2015 has the objective to increase Maize production, create jobs through funding of smallholder farmers for commodity associations, and supporting prime anchors to engage in backward integration for self-sufficiency and conservation of forex. The Bank also made the decision to restrict forex utilization for Maize importation in order to reflect its commitment to support local production of Maize in the country to stimulate rapid economic recovery, safeguard rural livelihoods, recover, and increase jobs.