Categories: Business and Brands

Dangote tables fresh demand from Buhari government

Aliko Dangote, Dangote Group CEO, has told President Muhammadu Buhari’s administration to embargo the export of maize to ensure food security in the country amid the Russia-Ukraine war. 

“We would start seeing people exporting maize to earn foreign exchange, which I believe we should stop,” he pointed out. “We need to grow more so we don’t have a shortage of food. It is about food security, and it’s serious.”

Advertisement

Mr Dangote made the call during the 4th Annual Nigerian Food Processors and Nutrition Leadership Forum on Thursday in Lagos.

The forum was organised by the Aliko Dangote Foundation, the Bill & Melinda Gates Foundation (BMGF), and TechnoServe, under the Strengthening African Processors of Fortified Foods (SAPFF) programme.

Advertisement

The programme aims to address the lingering challenges in the food fortification sector using a market-based approach to assist over 90 food processors to increase their capacity to produce and sell fortified foods to local markets.

Mr Dangote explained that the Russia-Ukraine war would lead to food scarcity, arising from the inability to access fertiliser. According to him, the ripple effect of the war on food production will be felt in the next two or three months in Nigeria.

Advertisement

He noted that Russia and Ukraine were the number one and five in wheat production, accounting for one-third of global wheat production.

The industrialist added that there would be a shortage of wheat, maize, and urea in the global market.

Advertisement

Mr Dangote noted that Russia and Ukraine produced about 13 per cent of urea, 26 per cent of potash, and one of the largest phosphate producers globally.

To ameliorate the supply chain impact on the country, Mr Dangote stressed the importance of engaging the government in a robust discussion to forge likely solutions.

Advertisement

Also, Boye Olusanya, the Flour Mills of Nigeria CEO, said the war would impact the prices of commodities globally.

Mr Olusanya also mentioned that wheat prices had increased, and there were issues of inventory control and management.

Advertisement

“We need to discuss with the government the measures to take to alleviate the impending crisis. The impact will also affect maize as Ukraine is the largest producer; we need to start looking at the issue of cross-border trafficking of maize, as more farmers will be moving maize out of the country,” he said.

He further mentioned that fertiliser would be affected with the impact spanning between 12 months and 18 months.

Advertisement

“If we don’t manage the situation effectively, there will be (a) significant volume of pressure on input material and the volume of food sold,” he said.

(NAN)

Advertisement
Ayoola Olaitan

Recent Posts

Tinubu promotes Acting Chief of Army Staff, Oluyede to Lt Gen

President Bola Tinubu has promoted the acting Chief of Army Staff, Olufemi Oluyede to the…

3 hours ago

Digital Transformation: Maida, Kekere-Ekun Speak At NCC’s Annual Workshop for Judges in Lagos

Welcome Address Delivered at the 2024 Edition of the Judges Workshop at Sheraton Hotel Ikeja,…

9 hours ago

Breaking: House Of Reps Finance Committee Visits FIRS

The House of Representatives Finance Committee has paid a working visit to the headquarters of…

11 hours ago

BREAKING: Tinubu govt drops treason charges against EndBadGovernance protesters

  The Federal High Court in Abuja has dismissed the treason charges brought against the…

15 hours ago

#USRoadToWhiteHouse2024: Trump-Harris polls remain tied in battleground states…

What to know about the end of the #USElection2024 campaign The most recent polling analysis…

15 hours ago

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

15 hours ago