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."

Copyright © 2012 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.