Nigeria spends $1.68b on food imports in 9 months

Nigeria spends $1.68b on food imports in 9 months
The Federal Government of Nigeria spent $1.68 billion on food importation between January and September in 2021.
This was contained in a Central Bank of Nigeria (CBN) report on sectoral utilisation of foreign exchange for the third quarter of last year.
According to the apex bank report, the government spent $163.60million, $197.73million, and $171.05m in January, February and March, while $156.30million, $135.72million and $213.58million were spent in April May and June by the government. The report also revealed that $184.69million, 188.88m and 271.59million were spent in July, August and September last year.
During the Bankers’ Committee retreat in Lagos recently, the CBN Governor, Mr Godwin Emefiele, said Nigeria could produce enough to feed it self.
He said the Federal Government is determined on the diversification of the economy and adequate food production.