Food Imports Cost Country N630 Billion Annually

Daily Trust

6 July 2011

Food Imports Cost Country N630 Billion Annually

Nigeria spends N630 billion to import agricultural foods annually because the agricultural sector has been pushed to the background, the governor of Central Bank of Nigeria (CBN), has said.

Sanusi Lamido Sanusi said this yesterday in Abuja when President Goodluck Jonathan launched the N77.5 billion Nigeria incentive-based Risk Sharing System for Agriculture (NIRSAL) meant to de-risk lending to the sector.