The Chairman of the Presidential economic advisory council, Mr Doyin Salami, revealed that the Nigerian government spent around N1.85 trillion on food imports in 2020 after the nations land boarders were closed.
Nigeria closed its land boarders in August 2019 to decrease the level of illegal foods, agricultural prod ucts and contraband being smuggled into Nigeria from neighbouring countries.
Mr Salami released these findings at the annual National Economic Outlook event organised by the Chartered Institute of Bankers of Nigeria on Tuesday (19th January). Due to current Covid-19 restrictions, the event was held virtually.
“Despite boarder closures, our national import of food amounted to N1.85 trillion between January and September 2020, resulting in a 62% increase when compared to the same period in 2019” Mr Salami indicated during a interview with The National.
In recent weeks, President Buhari approved the immediate reopening of four land boarders after being closed for more than 17 months. However, the opening of the boarders do not cancel the restrictions on imports of products such as rice.
To register your attendance for free, Click Here
For more information, please Click Here
Source: Premium Times Ng, January 2021