Nigeria spends N1.3tr yearly on food import

NIGERIA spends over 1.3 trillion naira yearly on the importation of basic food items including wheat, rice, sugar and fish, the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina disclosed yesterday.  He revealed that the country which is now the largest importer of rice in the world spends over N356 billion yearly on the importation of the item alone, while it spends about one billion naira daily on rice importation.

Adesina, who spoke in Enugu during the National Council on Agriculture meeting, disclosed that what was sad about the entire thing was that the country was blessed with over 84 million hectares of arable land, perfect weather to grow crops all year round, low labour costs and fertile soils to be a major food exporting country. Lamenting the effect of this on the economy, the minister stated that while the billions that country was spending goes into the pockets of farmers in India and Thailand, farmers in rice growing areas of Nigeria suffer the negative effects of dumped rice in the markets.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=80270:nigeria-spends-n13tr-yearly-on-food-import&catid=1:national&Itemid=559

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