Public Management

Nigerian Senate Opposes Raw Maize Exports

Nigerian Senate Opposes Raw Maize Exports
Tuesday, 10 December 2024 12:30

In Nigeria, maize is the most widely grown and consumed cereal. The authorities are working to ensure a steady supply for the local market, amid growing pressures on availability.

On December 6, the Nigerian Senate passed a bill aimed at curbing the export of raw maize. Reuters reported that under the new bill, any shipment of unprocessed maize weighing a ton or more would be illegal. Offenders would face a fine equal to the value of the seized goods or up to one year in prison.

The main objective of this move is to ensure a stable supply for the domestic market. Many traders have been selling maize to neighboring West and Central African countries to take advantage of higher profits when converting their earnings back to the weaker naira, compared to the stronger CFA franc.

Official data indicate that Nigeria exports between 50,000 and 75,000 tons of maize annually, but observers believe these figures may underestimate the volume of unrecorded trade in the region.

The Senate's proposal, which still needs approval from President Tinubu, comes amid severe food insecurity affecting over 30 million Nigerians. The maize sector, which plays a critical role in the country's diet, is under growing pressure. The U.S. Department of Agriculture (USDA) forecasts Nigeria's maize production will reach 11 million tons in 2024-2025, marking the second consecutive year it will fall below 12 million tons, a level also seen in 2018/2019, according to Ecofin Agency.

Several factors are contributing to the decline in maize production. Rising insecurity in the northern "maize belt," which includes major maize-producing areas, has disrupted farming activities. The devaluation of the naira has also increased the cost of agricultural inputs, making it harder for farmers to invest in their fields. As a result, Nigeria’s maize yields are about half those of South Africa or Ethiopia.

With reduced production, the supply of maize will need to meet the growing demand for food, beverages, and livestock feed. The poultry industry alone already accounts for nearly 45% of maize consumption in Nigeria.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Togo lawmakers approve bill updating 2008 environmental framework law Reform introduces green economy, circular economy, and carbon tax Measure aims...
Retail investors in Cameroon invested 25.9 billion CFA francs ($45.9 million) in government securities as of Jan. 31, 2026. Retail participation...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presumptive tax framework. Authorities exempt nano and small...
Investment firm Phatisa has sold its majority stake in Zambia’s egg producer Goldenlay. Belgian animal feed company Vanden Avenne acquired the...
Most Read
01

Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...

As Hormuz and Suez Tensions Escalate, Africa Faces a Potential Energy and Trade Shock
02

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
03

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
04

Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...

Nigeria Advances Banking Reform With Strong Recapitalization Progress
05

The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...

BCEAO Cuts Key Rate to 3.00% as WAEMU Faces Deflation
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.