Nigeria crashes food importation by 60%

14.11.2018

Nigeria has succeeded in reducing the importation of food items by 60 percent from 2015 to date, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said.Emefiele said that the government, in the process, saved $800 million.

The reduction affected five major food items – rice, wheat, sugar, tomatoes and milk.

He unveiled the progress in agriculture at a special town hall meeting on government’s agriculture intervention, organised by the Ministry of Information and Culture in conjunction with the National Orientation Agency (NOA) in Jigawa State in northern Nigeria on Monday.

He explained that $1.4 billion was spent on the importation of the five commodities by 2013 and $678.6 million was spent at the end of 2017.

Emefiele, who was represented by his special adviser, Mr. Olatunde Akande, compared statistics and the impact of agriculture revolution in the country along the five major commodities of sugar, milk, rice, tomatoes and wheat between 2013 and 2017.

The CBN governor noted that at the end of 2017, the rate of food importation had reduced by almost 60 percent in terms of the value of food import into Nigeria for these five commodities.

According to Emefiele, the CBN is supporting the rice paddy programme, a food security programme for large enterprises.

“What we have done is that we have looked at five key commodities – sugar, milk, rice, tomatoes and wheat. In 2013, the country spent $1.4 billion to import these commodities into the country.


journalducameroun.com  
 

Readers choice: TOP-5 articles of the month by UkrAgroConsult