This Day (Lagos)

22 June 2012

Nigeria: 'FG Spends U.S.$10 Billion On Food Importation'

Minister of Agriculture, Dr AKinwunmi Adesina, yesterday disclosed that the country spent 10 billion dollars annually on food importation, hinting that the country also spent NI billion daily to import rice from Thailand and India.

The minister who made this disclosure in Abeokuta, Ogun State capital, during the flag off of Commercial Agriculture Credit Scheme (CACS) and official roll out of the growth enhancement of the Transformation Agency, said about N635 billion was expended to import wheat, N267 billion on Sugar and N71 billion on fish importation.

"The current situation in the country is not acceptable. Nigeria is spending 10 billion Dollars annually importing basic things. It spends N635 billion importing wheat, it spends N1 billion a day importing rice from Thailand and India."

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