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How Much Does Nigeria Spend on Rice Importation?

You won’t just believe your eyes seeing how much a country like Nigeria, with good potential for agriculture, spends on the importation of one of the most common food; Rice.

On the amount spend, different figures are gotten from different trusted entities/sources. In May 2015, the Governor of the Central Bank of Nigeria made known that $2.14 billion was spent on rise importation between Jan 2012 to may 2015.

Also, the Executive secretary, Agricultural Research Council of Nigeria ARCN Prof. Baba Abubakar disclosed at a seminar that Nigeria spends 356 billion naira  on the importation of rise making Nigeria to be second in the list of country that import rise most.

The minister of science and technology Dr Ogbonanya Onu once said that the country spends over 1 billion naira daily on rice importation, while according to a former minister of commerce and industry Egnr. Charles Ugwu, Nigeria has been spending $2.6 billion per year on importing rice

Whichever is the most correct from the above given figures. It is just obvious that even the least of the figures is unhealthy for our economy. Now the need for Nigerian governments and citizens to invest more on Agriculture. Growing all the rice we consume here could save us this huge wastage and the money could be concentrated on other things

Question: How Much Does Nigeria Spend on Rice Importation?

Answer: See the figures above

 

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