font-weight: 600; Consequently, the production cost went up to one hundred and fifty million naira, which the new TELA hybrid maize will help to save for Maize farmers in Nigeria. }. This was corroborated by the Deputy Director, Development Finance Department of the CBN, Mr Elenwor Ihua, who said Nigeria has the landmass, capacity and workforce to produce enough maize that could feed the country but noted that the problem was that the country produced maize in only one season. According to Emefiele, the Bank has sustained its intervention efforts in order to help catalyse growth in critical sectors of the economy such as agriculture and manufacturing. It hopes to get as many farmers as possible to join the scheme to address the wet season shortfall. .ai-viewport-0 { display: none !important;} } text-decoration: underline; We have already started preparing for the dry season by the end of December. The crop is not only being consumed as food in all regions of the country but has also become a raw material in manufacturing and agriculture- related businesses within and beyond the borders of Nigeria. Zea mays Corn, Indian corn, mealies. } The MAAN president said the association is targeting about 22 states to commence the 2020\/2021 dry season farming with a target of cultivating 400,000 hectares. 3. With the advent of fall armyworm infestation of maize in Nigeria in 2015, the quantum of pesticides required to produce maize has doubled. Maize farmers across the country have begun the aggregation of maize as farmers in Funtua, Katsina State, last week brought over 33,000 bags (100kg) of maize showcased in pyramids. {"@context":"https:\/\/schema.org","@type":"BreadcrumbList","@id":"https:\/\/leadership.ng\/cbn-boosting-nigerias-maize-output\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/leadership.ng","name":"Leadership Newspaper"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/leadership.ng\/category\/business\/","name":"BUSINESS"}},{"@type":"ListItem","position":3,"item":{"@id":"https:\/\/leadership.ng\/category\/opinion\/","name":"OPINION"}},{"@type":"ListItem","position":4,"item":{"@id":"https:\/\/leadership.ng\/cbn-boosting-nigerias-maize-output\/","name":"CBN Boosting Nigeria\u2019s Maize Output"}}]}, (a.addEventListener("DOMContentLoaded",n,!1),e.addEventListener("load",n,!1)):(e.attachEvent("onload",n),a.attachEvent("onreadystatechange",function(){"complete"===a.readyState&&t.readyCallback()})),(r=t.source||{}).concatemoji?d(r.concatemoji):r.wpemoji&&r.twemoji&&(d(r.twemoji),d(r.wpemoji)))}(window,document,window._wpemojiSettings); Maize is one of the most important staple foods in Nigeria and consumed by all in diverse ways. Funding has always been a challenge for farmers as well as agriculture value chain operators in Nigeria until recently when the Central Bank of Nigeria (CBN) revived some of its agricultural financing\u00a0schemes as well as new intervention funds to ensure adequate funding for the sector. #amp-mobile-version-switcher > a:hover, Maize, which is grown in several regions of the world and is referred to as the world best adapted crop, has grown to become the fourth most consumed cereal ranked below sorghum, millet and rice and the third most important cereal after sorghum and millet. Corn Oil. Africa harvests 29 million hectares, and as the largest producer, Nigeria produced 1.69 tons per hectare in 2019, its highest production rate. background-color: #444; vertical-align: -0.1em !important; display: none; With the use of Hybrid Maize and mechanized system of farming, yield of maize can reach up to 10.2 tonnes per hectare, with traditional African type of cultivation, production is 2.1 tonnes per hectare which isn’t too bad anyway. Our website uses cookies to improve your online experience. The CBN has taken development financing a notch high in recent times because, like the fiscal authorities, it believes that diversifying the Nigerian economy will not only make her self-sufficient in food production and industrial raw materials, but also create jobs for its teeming youth population. {"@context":"http:\/\/schema.org","@type":"Organization","@id":"https:\/\/leadership.ng\/#organization","url":"https:\/\/leadership.ng\/","name":"Leadership Newspapers","logo":{"@type":"ImageObject","url":"https:\/\/leadership.ng\/wp-content\/uploads\/2020\/08\/Light_googleNews.png"},"sameAs":["https:\/\/www.facebook.com\/LeadershipNGA\/","https:\/\/twitter.com\/LeadershipNGA","https:\/\/www.instagram.com\/leadership_newspaper\/"]} This the Bank has done through intervention programmes such as the Anchor Borrowers’ Programme (ABP), the Commercial Agriculture Credit Scheme (CACS), the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) and recently introduced Commodity Development Initiative (CDI), which focuses on developing the value chain of ten focal commodities: Cassava, cocoa, cotton, fish, livestock/dairy, maize, oil palm, poultry, rice and tomatoes. The Maize Aggregation Scheme which is under the Anchor Borrowers Programme of the CBN has so far been yielding results. Despite its high production volumes, maize farming in Nigeria yields an average of 1.8 metric tonnes per hectare (MT/Ha) which is one of the lowest among the top 10 maize producers in Africa. \u201cHowever, with this initiative that we are carrying out with the likes of MAAN and other organisations, we intend to have at least two circles of production. As the CBN is going to finance about 750,000 farmers with some other commodity associations, Bello said that he expects that the 2020/ 2021 season will be a very good year for maize production in Nigeria. display: inline !important; CSV XML EXCEL. The MAAN president said the association is targeting about 22 states to commence the 2020/2021 dry season farming with a target of cultivating 400,000 hectares. Maize farmers across the country have begun the aggregation of maize as farmers in Funtua, Katsina State, last week brought over 33,000 bags (100kg) of maize showcased in pyramids. border: 0; As a crop it can, according to the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, grow almost everywhere irrespective of the season in Nigeria. What is the Current Price of Maize in Nigeria? Among such is the Maize Aggregation Scheme which is a working capital facility that helps Agro-businesses purchase home-grown maize. East Africa Seed Company Limited (EASeed) has introduced a new maize variety into the market which takes 90 days to mature and has a potential yield of 28-30 bags per acre as compared to other varieties in the market which take up to 150 days to mature and can yield just 10-15 bags per acre. 18.1K Views 2017-08-30 12:27:31 crop production how to reap maximum benefits and profits from your farm significantly higher yields! 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