The Minister for Food and Agriculture, Hon. Eric Opoku, has announced that the National Food Buffer Stock Company (NAFCO) will immediately release 50,000 bags of 50-kilogramme rice to settle Ghana’s outstanding obligation to the Economic Community of West African States (ECOWAS).
The Minister made the announcement at the maiden Annual General Meeting (AGM) of NAFCO, where he highlighted the company’s improved food stock position and financial performance.
According to Hon. Eric Opoku, Ghana borrowed rice from ECOWAS in 2018 to support the School Feeding Programme.
He said improved management of NAFCO and increased procurement of food commodities had enabled the company to accumulate sufficient rice stocks to repay the obligation.
“Today, by the grace of God, and with prudent management of the company, we have been able to procure enough, more than enough, for us to pay back what we borrowed,” the Minister said.
He explained that the immediate release of the 50,000 bags would enable Ghana to settle its rice obligation to ECOWAS, adding that the country would no longer need to borrow rice.
The Minister disclosed that NAFCO’s current rice stock stands at 20,443 metric tonnes, describing the development as an indication of improved food availability and strengthened national food security.
Hon. Eric Opoku also highlighted developments in Ghana’s maize production following the implementation of the Feed Ghana Programme.
He said that after one year of implementing the programme, Ghana had produced maize in excess of domestic demand.
According to the Minister, the national maize balance is estimated at 3.6 million tonnes, while Ghana produced 4.6 million tonnes of maize in 2025 alone.
He said the development demonstrated progress in efforts to strengthen domestic food production and reduce Ghana’s dependence on food imports.
The Minister further disclosed significant improvement in NAFCO’s financial performance.
According to the company’s 2025 audited accounts submitted to the State Interests and Governance Authority (SIGA), NAFCO moved from a net loss of GH¢19 million in 2024 to a net profit of GH¢91.7 million in 2025.
The company’s gross profit margin also increased from 1.61 percent in 2024 to 13.96 percent in 2025.
Hon. Eric Opoku commended the Board and Management of NAFCO for the improvement in the company’s financial performance and urged them to sustain prudent management practices while ensuring the long-term viability of the company.
He stressed the importance of NAFCO’s role in managing Ghana’s strategic food reserves and supporting government’s efforts to strengthen food security.
The maiden Annual General Meeting provided an opportunity for the company to review its performance, assess its financial position and outline strategies to strengthen its operations and contribution to Ghana’s food security agenda.
