Federal authorities have discovered a network of 32 pathways used for smuggling food out of Nigeria. Vice President Kashim Shettima, addressing attendees at a conference on Public Wealth Management organized by the Ministry of Finance Incorporated (MOFI) in Abuja, revealed this significant finding.
“Recently, 45 maize-laden trucks were intercepted en route to neighboring countries,” stated Shettima, emphasizing the urgency of the situation.
The interception of these trucks, particularly in the Ilela axis, revealed the existence of 32 illicit routes dedicated to smuggling. The immediate impact was a notable drop in maize prices, plummeting from N60,000 to N50,000 per unit.
Shettima underscored the nefarious intent behind such activities, urging unity in addressing this national challenge.
Echoing Shettima’s concerns, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the efforts of the administration to stabilize prices despite inheriting economic challenges.
Edun announced the release of 42,000 metric tons of grains, with plans for an additional 60,000 metric tons shortly, aiming to ease the burden on citizens.
Recognizing the need for collaboration between the public and private sectors, Tony Elumelu, Chairman of Heirs Group, emphasized the importance of strategic partnerships. He proposed leveraging the expertise of seasoned professionals to enhance operational efficiency and governance structures.
Elumelu stressed the continuous evaluation of the operating landscape to preempt and address emerging risks, advocating for a proactive approach to economic management.
