Nigeria Spends $1.25bn On 247,000 Tonnes Wheat Production

Despite the N587.5 billion ($1.25 billion) financial support from the World Bank, African Development Bank (AFDB) and International Fund for Agricultural Development (IFAD) and groups under the Agricultural Transformation Agenda (ATA), the value of local wheat production in the last four years totaled $60.8 million. A total of 247,000 tonnes was produced instead of 2.55 million tonnes within the period as targeted by government due to low yield and activities of terrorists.
 
Nigeria had spent $6.05 billion to import the grain within four year as $1.2 billion was spent in 2016 and $1.5 billion in 2017, while in 2018 and 2019, $1.65 billion and $1.7 billion were spent respectively. Data by the United States Department of Agriculture (USDA) noted that United States’ wheat export to Nigeria in 2018 and 2019 was worth $530 million and $534 million respectively. Also, it revealed that 936,000 metric tonnes of the grain brands were imported by Nigerian firms from U.S. in 2020…
 
More details through:
https://www.newtelegraphng.com/nigeria-spends-n587-5bn-on-247000-tonnes-wheat-production/