Nigeria to Concession Two Million Tonnes Capacity Silos

Enterprise Television – Nigeria to Concession Two Million Tonnes Capacity Silos

The Federal Executive Council (FEC) on Wednesday approved plans to concession twenty grain silos in the country, with a joint capacity of two million tonnes.

The Minister of Agriculture, Audu Ogbeh disclosed this in a briefing with State House correspondents at the end of FEC meeting, chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

According to him, each of the twenty silos has 100,000 tonnes capacity and the government will receive N6 billion in the first 10 years of the concession.

The Minister allayed fears that concessioning the silos will impact food security in Nigeria negatively; he noted that it would rather boost the storage and export of agricultural produce.

He stressed that the government however remains the owner of the silos.

Ogbeh warned that the concession agreement would be revoked if not properly managed.

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