Following the food security programme initiated by the Central Bank of Nigeria (CBN), the Federal Government through the National Emergency Management Agency (NEMA) is now set to distribute 332,741 bags of maize, 682,726 bags of soy bean and 229,360 bags of sorghum to Internally Displaced Persons (IDP) camps in Borno, Adamawa, Yobe, Bauchi, Gombe and Taraba states.

The CBN had in November 2016, initiated a Food Security Programme on a Public Private Partnership (PPP) basis.

The action, CBN sources told News Express, was necessitated by the desire to stabilise the rising grain prices coupled with dire need for the Federal Government to shore up its Strategic Grain Reserves.

News Express recalls that despite the good grain harvest experienced by farmers, there was a huge demand from other African countries through the land borders occasioned by the fall in Naira value.

With the funds made available by the CBN from the Anchor Borrowers’ Programme, the companies were able to purchase grains from farmers. To date, a total of 30,905.08 MT of grains, namely maize, soy bean and sorghum, have been purchased and stored in different locations across the country. Hence, with stability in prices, the Federal Government has decided to buy back the grains from the companies and distribute same to IDPs in the various camps across the country.