The Central Bank of Nigeria on Monday said it is ready to release about 300,000 metric tonnes of maize into the country’s market in February.

In a statement, the CBN said the move is being carried out through its Anchor Borrowers’ programme and is expected to help reduce the price of the commodity, raise demand, and improve farmers’ profits.

The planned release by the CBN follows efforts by critical stakeholders working with relevant government and security agencies, to end the challenges caused by middlemen and bandits in accessing the product.

Maize currently sells at N155,000 per metric tonne.