President Muhammadu Buhari, has approved the release of 5,000 metric tonnes of maize from the National Strategic Grains Reserve to support the Poultry Association of Nigeria at a subsidised rate.
According to the Federal Ministry of Agriculture and Rural Development, the President subsidised the cost to N90,000 per metric tonne, as against the market price of N170,000.
This was conveyed to the Minster of Agriculture and Rural Development, Sabo Nanono, in a letter with reference No: SH/COS/05/A/26/1, and signed by the Chief of Staff to the President, Ibrahim Gambari.
In a statement issued in Abuja on Thursday by the spokesperson of the ministry, Theodore Ogaziechi, the FMARD stated that the poultry industry, which accounts for about 27 per cent of the agricultural Gross Domestic Product, provides about 20 million direct and indirect employments.
It said the industry would heave a sigh of relief as the subsidised maize would help resolve the challenge of poultry feeds ravaging the industry.
Nanono assured the poultry farmers of the readiness of his ministry to immediately comply with the presidential directive in order to salvage the N10tn investment in the industry.