16/03/2025
Nigeria recorded the lowest maize price at USD 375/MT in February 2025,
....AFRICAN FOOD SYSTEM MONITOR
The African Union has made a historic move to enhance food safety across the continent by adopting the statute for the establishment of the Africa Food Safety Agency during the 38th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia, on 16 February 2025. This landmark decision signifies a major advancement in the continent’s commitment to protecting consumer health, strengthening food safety governance, and facilitating trade in safe food products under the African Continental Free Trade Area (AfCFTA).
The prevalence of insufficient food consumption (IFC) remains unchanged from previous month in all monitored countries across East, Southern, and West Africa, except Nigeria which saw 1% improvement, equivalent to 2.1 million people. The incidence of IFC also remains stable in majority of the monitored countries across the continent, compared to a year ago, but lower in Nigeria by 5%
In West Africa, Nigeria recorded the lowest maize price at USD 375/MT in February 2025, down from USD426/MT in January 2025.
Conversely, Togo had the highest maize price at USD478/MT. The decline in maize prices in Nigeria in USD, reflects similar trends in local currencies, with prices falling by 14.1% and 23.6% over the past 1 and 3 months, respectively. Overall, maize prices have begun to decline compared to the past 3 months due to increased supplies from recent harvests. In Nigeria, the government's issuance of tariff moratoria on wheat, maize, rice and other food crops last year, increased supply of these commodities and contributed to the recent price decrease.
The Trucks Transit Parks Ltd (TTP) has successfully integrated the Central Bank of Nigeria’s (CBN) and Nigeria Export Proceeds (NXP) system with its innovative to electronic call-up platform. This integration is aimed at modernizing &streamlining Nigeria’s export operations, enhancing transparency, efficiency, and overall operational excellence at the nation’s ports