The National Food Buffer Stock Company (NAFCO) has recorded significant improvements in its financial and operational performance, as the government intensifies efforts to strengthen Ghana’s food reserves and ensure reliable markets for farmers.
The development was highlighted at NAFCO’s 2026 Annual General Meeting in Accra, where the Minister for Food and Agriculture, Hon. Eric Opoku, commended the company’s Board and management for its financial turnaround and urged them to maintain discipline in managing the country’s strategic food stocks.
The meeting provided an opportunity to assess NAFCO’s performance, review its contribution to national food security and outline priorities for strengthening the company’s operations under the government’s Agriculture for Economic Transformation Agenda.
A key development highlighted at the meeting was the increase in NAFCO’s grain reserves to approximately 20,443 metric tonnes. The Minister said the improved stock position demonstrated progress in efforts to strengthen Ghana’s food security and ensure that food commodities are available when required.
However, Mr. Opoku stressed that maintaining adequate reserves must go hand in hand with strict discipline in the management, storage and distribution of food commodities.
He directed NAFCO to immediately release 50,000 bags of 50-kilogramme grains to settle Ghana’s outstanding obligation to the Economic Community of West African States (ECOWAS).
According to reports from the meeting, Ghana had borrowed the grains from ECOWAS in 2018 to support the School Feeding Programme and now has sufficient stocks to repay the obligation.
The directive highlights NAFCO’s dual responsibility of maintaining Ghana’s strategic food reserves while also meeting the country’s commitments under regional food security arrangements.
”NAFCO plays a central role in Ghana’s food security system, including managing emergency food reserves, purchasing excess produce from farmers and supplying food commodities to public institutions. Its mandate also includes managing regional food security reserve stocks for ECOWAS.”
Minister for Food and Agriculture, Hon. Eric Opoku
Attention to Strong Financial Recovery
According to the 2025 audited accounts, NAFCO moved from a net loss of GH¢19.4 million in 2024 to a net profit of GH¢91.7 million in 2025. Its gross profit margin also increased from 1.61 per cent to 13.96 per cent during the same period.
The financial performance represents a significant change in the company’s position and was attributed to governance and operational reforms introduced by the Board and management.
The reforms have included the establishment of a dedicated procurement department, strengthened internal audit and food safety functions, the establishment of key board committees and improvements in the company’s regional operations. The Board has also been working to rehabilitate warehouses and expand storage capacity.
Despite the progress, storage capacity remains an important issue for NAFCO and the wider agricultural sector. Earlier in 2026, the company indicated that inadequate and deteriorating storage facilities were constraining efforts to purchase and preserve surplus grains from farmers.
The government has therefore placed emphasis on modernising NAFCO’s facilities and securing the resources required to improve its capacity to store food commodities safely and efficiently.
The Minister said the government remained committed to working with NAFCO to modernise its facilities, secure the necessary funding and strengthen the company’s ability to provide farmers with a fair and reliable market.
Farmers Remain Central to the Success of Ghana’s Food Security Agenda.
A functioning buffer-stock system can provide an important market for farmers, particularly during periods of high production when excess supply can place downward pressure on farm-gate prices.
NAFCO’s mandate includes mopping up excess produce, reducing post-harvest losses and providing farmers with an assured market and minimum guaranteed price mechanisms.
The government’s broader agricultural strategy places food production and value addition at the centre of economic transformation. The 2026 national budget identifies agriculture as an anchor of the economy, with objectives including food security, reduced food imports, increased exports, productivity improvements and greater value addition.
Recent developments in grain production have also increased the importance of effective storage and market systems. At the NAFCO meeting, the Minister pointed to improvements in maize production under the Feed Ghana Programme, noting that Ghana had produced more maize than domestic requirements after a year of implementation.
Food Security Remains a Major Regional Priority
ECOWAS has identified food availability, access, utilisation and stability as key dimensions of regional food security, while emphasising the importance of stronger agricultural value chains and regional food-security mechanisms.
Against this backdrop, the government has urged NAFCO to maintain prudent financial management while strengthening its core mandate of protecting national food reserves and supporting farmers.
The Minister further called for integrity and public-service values to remain at the centre of decision making, stressing the need for NAFCO’s operations to deliver lasting benefits to Ghanaian households.
”As the company moves into the next phase of its operations, attention will focus on sustaining its financial gains, improving storage infrastructure, maintaining adequate strategic reserves and strengthening its relationship with farmers.”
Minister for Food and Agriculture, Hon. Eric Opoku
The government’s expectation is that NAFCO will continue to serve as a reliable link between agricultural production, food security and market stability.
With stronger financial management, improved infrastructure and effective stock management, NAFCO is expected to play an increasingly important role in supporting Ghana’s agricultural transformation and ensuring that farmers have dependable markets for their produce.
The 2026 Annual General Meeting therefore marked both a review of NAFCO’s progress and a call for greater responsibility in managing the resources entrusted to the company.
For government, the objective remains to build a food system that protects national reserves, supports farmers, reduces food insecurity and contributes to broader economic transformation.
As Ghana advances its Agriculture for Economic Transformation Agenda, NAFCO’s ability to manage strategic reserves efficiently and connect farmers to reliable markets will remain central to the country’s food-security efforts.
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