FG to Withdraw Silo Licenses of Private Companies

In News 2020-03-20 10:18:23
FG to Withdraw Silo Licenses of Private Companies
FG to Withdraw Silo Licenses of Private Companies

The Minister of Agriculture and Rural Development, Sabo Nanono, says the Federal Government will take back silos it leased to private companies over lack of commitment.

 

The minister handed down the warning when he featured on the News Agency of Nigeria (NAN) Forum in Abuja.

 

He noted that the concession of 19 out of the 33 silos across the country was meant to provide more income for the government, provide more employment opportunities among others.

 

Reports say that the New Strategic Grain Reserve Storage Programme was designed by the government to cushion the effect of national disasters, war or drought.

 

It is meant to ensure price stability and food security at such moments.

 

According to Nanono, the licences of concessionaires who failed to meet terms of the agreement reached with the companies would be revoked.

 

The minister said they were working to stock at least 500,000 tonnes of assorted grains.

 

He noted that though not all the silos were currently in use, "we are working on cleaning them up and we will re-assess the silos and bring them up to standard."(NAN)