{
  "id": 10400999,
  "title": "2027 budget to provide for grain silos – Agric Minister",
  "url": "https://urgent.news/2026/09/28/2027-budget-to-provide-for-grain-silos-agric-minister",
  "topic": "world",
  "section": "World",
  "published": "2026-09-28T08:07:51.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/2027-budget-to-provide-for-grain-silos-agric-minister/"
  },
  "original_language": "en",
  "account": "The Minister of Food and Agriculture, Eric Opoku, has announced that the upcoming budget will include sufficient funding for the construction of grain silos across the country. This announcement comes after Ghana produced 4.6 million tonnes of maize in the previous year, while the estimated demand stood at 3.6 million tonnes, leaving a surplus of about one million tonnes. During the first Annual General Meeting (AGM) of the Ghana Food Buffer Stock Company (NAFCO) held on September 24 in Accra, Opoku stressed the importance of NAFCO's role in establishing numerous silos to accommodate the growing quantity of cereal production in Ghana.\n\nAt the AGM, which focused on the theme \"Strengthening Food Security through Strategic Partnership,\" NAFCO presented its annual reports and financial statements for the financial years of December 31, 2010, through December 31, 2025. Opoku highlighted that strengthening NAFCO's capacity to handle excess production would help create a dependable market for farmers and prevent increased domestic production from turning into losses for producers.\n\nCurrently, NAFCO holds 20,443 tonnes of grains in storage, which Opoku referred to as a step towards rebuilding the country's strategic food reserves. His ministry has collaborated with NAFCO's board and management to enhance its operations and rebuild its reserves following years of financial and operational issues. Furthermore, the government has instructed NAFCO to release 50,000 bags of grains to settle its outstanding obligations to the Economic Community of West African States (ECOWAS). In 2018, Ghana had to borrow grains from ECOWAS to support the School Feeding Programme, but, thanks to NAFCO's sound management, the country now has surplus grains to repay the borrowed amount.\n\nNAFCO's CEO, George Abradu-Otoo, disclosed that the company had managed to generate profits in several years, including 2018, 2019, 2020, 2022, and 2023. However, NAFCO's performance in 2025 was the most profitable in its history, with a net profit before tax of GH¢91.7 million. The gross profit margin also increased significantly from 1.61 percent in 2024 to 13.96 percent in 2025, thanks to stronger cost discipline and revenue growth. Additionally, NAFCO's return on operating assets rose from negative 63.80 percent to positive 26.29 percent, showcasing better utilization and management of the company’s assets. The CEO also revealed that NAFCO paid the highest annual tax contribution in its 16-year existence, amounting to GH¢20.3 million in 2025.",
  "summary": "Adequate allocations will be made in next year’s budget for the construction of silos for the storage of grains, the Minister of Food and Agriculture, Eric Opoku, has disclosed.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "title": "Economy Minister Akmal says RM2,000 minimum wage decision rests with PM Anwar in Budget 2027",
        "url": "https://urgent.news/2026/09/28/economy-minister-akmal-says-rm2-000-minimum-wage-decision-rests-with",
        "published": "2026-09-28T06:14:35.000Z"
      },
      {
        "outlet": "The Vibes",
        "title": "RM2,000 minimum wage must balance workers’ welfare, SME survival, says Akmal",
        "url": "https://urgent.news/2026/09/28/rm2-000-minimum-wage-must-balance-workers-welfare-sme-survival-says",
        "published": "2026-09-28T06:47:00.000Z"
      },
      {
        "outlet": "Joy Business",
        "title": "2027 budget to provide for grain silos – Agric Minister",
        "url": "https://urgent.news/2026/09/28/2027-budget-to-provide-for-grain-silos-agric-minister-10402190",
        "published": "2026-09-28T08:07:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}