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Cabinet officials

President Buhari Approves Release of 40,000 Metric Tons of Grains for Needy Nigerians

Strategic Insights

— 2 min read

President Muhammadu Buhari has given the approval for the release of 40,000 metric tons of assorted grains from the nation's Strategic Grains Reserve (SGR) to needy Nigerians. This move is aimed at cushioning the effect of high prices of commodities across the country and providing a little relief during the ongoing festivities. The Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, confirmed that the grains are ready for immediate distribution and will be handled by the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

Key Takeaways:

  • The release of 40,000 metric tons of assorted grains is aimed at providing relief to Nigerians during the ongoing festivities and cushioning the effect of high prices of commodities.
  • The grains are to be distributed by the Ministry of Humanitarian Affairs, Disaster Management and Social Development, in conjunction with the Ministry of Agriculture and Rural Development.
  • The SGR has grains silos located across the entire country, in all six geopolitical zones.
  • Despite security concerns in the north-west and north-east, the government is ensuring that food production continues, with the Ministry of Agriculture providing security cover with its Agro Rangers.
  • The minister confirmed that Nigeria imports grains and agricultural inputs from Ukraine and is exploring alternative sources to mitigate the impact of the Ukraine-Russia war.
  • The conflict in Ukraine has put global trade recovery at risk, with the World Trade Organisation (WTO) projecting a 3% growth in world merchandise trade volume in 2022, down from 4.7% previously projected.
  • African countries, particularly those that import food from Ukraine, Russia, or both, are likely to be affected by the high food prices due to the conflict.

Statistics:

  • 40,000 metric tons of assorted grains are to be distributed to needy Nigerians from the Strategic Grains Reserve (SGR).
  • The grains will be distributed by the Ministry of Humanitarian Affairs, Disaster Management and Social Development, in conjunction with the Ministry of Agriculture and Rural Development.
  • The SGR has grains silos located across the entire country, in all six geopolitical zones.
  • The World Trade Organisation (WTO) projects a 3% growth in world merchandise trade volume in 2022, down from 4.7% previously projected.
  • The Russia-Ukraine conflict has led to a sharp spike in food prices, with spot prices for wheat rising by 31% before falling back to 21%.
  • Low income food deficit countries saw their food bills rise 20% in 2021, an increase of over $120 billion.
  • Services trade will also be affected by the conflict in Ukraine, including in the transport sector, which covers container shipping and passenger air transport.

Sources:

  • This Day, "Buhari Approves Release of 40,000 Metric Tons of Grains" (2022)
  • AllAfrica, "Okonjo-Iweala Warns of Looming Food Crisis" (2022)
  • WTO, "Trade Forecast" (2022)
  • WTO, "WTO Trade Forecast" (2022)
  • International Grain Council, "Grain Prices" (2022)

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