Nigeria spends N1.3 trillion to import

Nigeria spends N1.3 trillion to import rice, sugar,wheat, fish

THE Minister of Agriculture and Rural Development, Mr. Akinwunmi Adesina has lamented that despite Nigeria’s abundant fertile land, the country remains the largest importer of foods, regretting that Nigeria spends N1.3 trillion to import wheat, rice, sugar and fish annually “And food imports are growing at an unsustainable rate of 11 percent and it makes no sense”.
He stated this in Abeokuta, the Ogun State Capital at a two-day lnvestors' Forum. The summit, put together by the State government was aimed at charting the path for economic transformation of the State so as to make it a key player in national and regional economy, Governor Ibikunle Amosun disclosed in his opening address.
The Minister stressed “Yes it makes no sense that we spend so much money to import rice everyday, whereas, Sokoto, Niger and Ogun States can grow rice. This is notsustainable and politically it is bad”.
Adesina again revealed that Nigeria, as today is consuming 5 million metric tonnes of rice annually, adding that by 2050, Nigeria would be consuming 36 million metric tonnes and the Federal government would be spending N150 billion Dollars to finance it, if something urgent is not done to check the situation.
Ogun State Governor, Senator Ibikunle Amosun in his address disclosed that the State had 16,000 square kilometers of fertile land for agriculture and forestry development.