Nigeria saves $5 million daily from ban on wheat importsStaff Writer | March 27, 2017
The Minister of Agriculture of Nigeria, Chief Audu Ogbeh, has said President Muhammadu Buhari-led administration’s policy on the ban of importation of rice and wheat has enabled the country to save $5 million daily.
Food in Africa The tariff increase introduced in December
He said: “The tariff increase introduced in December last year saw the import duty on rice increased from 10 to 60 percent in an effort to increase local production of the product.”
Ogbeh added that the policy option had created wealth for farmers and those in the farm produce value chain.
“The rice you grow, the wheat you grow is saving Nigeria a lot of money. Before now we were spending $5 million a day importing rice from Thailand. Now that money is in the hands and pockets of farmers in Kano, Jigawa, Kebbi and other parts of the country.
“That is why farmers are getting richer, before now the money was going to some other places and the poverty was coming here, that era is gone,” he noted.
He said the figure represented the amount of money being spent on the importation of those farm produce before the ban and tariff increase policies were introduced about a year ago.
Ogbeh commended Kano State Government and farmers for the rice, saying it has expelled recession from the state and supplied food to needy states.
“To prevent post-harvest losses, the state government has made available the sum of N50 million naira as loan for them to tap into and meet their immediate needs in order to stop them from selling the wheat product at low price,” Ganduje said. ■