Tags : Food Import

Food Imports Exceed Exports By N2.23tn In 12 Months

Findings have revealed that the total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn. This is coming despite the interventions by the Federal Government to diversify the economy and increase food production in the country. According to the National Bureau of […]Read More

Nigeria Spent $1.68bn On Food Imports In Nine Months

The Central Bank of Nigeria disclosed that from January to September 2021, the Federal Government has spent $1.68bn on food importation. In the report on sectoral utilization of foreign exchange for the third quarter of 2021, the apex bank said Nigeria could produce enough to feed its citizens. During the Bankers’ Committee retreat in Lagos […]Read More

Nigeria Spent $160m forex On Food Import In January

The Central Bank of Nigeria has revealed that the country spent $160m from its foreign exchange on food importation in January. According to figures obtained from CBN’s economic report on ‘Sectoral utilisation of foreign exchange’ for January showed that this was lower than $310m spent in December. The report reads: ‘“Total foreign exchange utilisation by […]Read More