FG Seeks to Bar Foreigners from Buying Food Commodities at Farm Gate – THISDAYLIVE

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•Move may rein in food inflation

James Emejo

The Minister of Industry Trade and Investment, Mr. Adeniyi Adebayo, yesterday inaugurated an Inter-Ministerial Standing Committee to oversee the implementation of a memo on the “Promotion of Agri-Business in Nigeria through Right Farm Gate Pricing and Ban of Foreigners from Purchasing Agricultural Commodities at the Farm Gates.”

The memo, was earlier approved by the Federal Executive Council (FEC) after it was jointly presented on March 9, by the Ministry of Industry, Trade and Investment and the Federal Ministry of Agriculture and Rural Development.

Adebayo, explained that the move was part of the government’s efforts to provide the enabling environment for the commodity sub-sector to thrive.

The minister said the memo specifically seeks to address challenges impeding the development of the agricultural commodity subsector of the economy, curtail unfair trade malpractices and exploitation of…



Source: Thisday Newspaper