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N315b Expenditure On Wheat Importation In Nigeria

By on November 18, 2011

The plans to save about N315 billion per annum on the importation of wheat flour into the country has been concluded by the Federal Government.

According to the Minister of Agriculture, Akinwumi Adeshina, Nigeria spends a total of N635 billion per annum on the importation of wheat flour, yet is the highest producer of cassava in the world. The country produces 35million metric tons of cassava, but uses almost none of it, choosing instead to import wheat which it uses in the production of bread.

Following this, the Federal Government decided at the Federal Executive Council (FEC) meeting held on Wednesday to encourage the inculcation of about 50% of cassava produced flour into the bread market and this move is intended to save up to half the wheat importation cost, N315billion.

Adeshina said, “Nigerians must eat what we produce because we have to create market for our farmers. We have to make sure that we stabilize the prizes of the commodities produced here, we have to diversify our economy and we have to create a lot of jobs,” he said.