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Nigeria Should Be Global Food Power House – Agric Minister Says 2012 Investment Was $8 billion

By on January 25, 2013

Agric Minister, Akinwunmi Adesina

The Agricultural Minister is anything but short of optimism as regards Nigeria’s agricultural sector. A fact he demonstrated to investors at a round table discussion in Geneva.

Discussing with a panel of investors and economic experts, Adesina stated, “Nigeria has no business importing food. We should be a global power house on food.”

Adesina is probably one of the busiest members of the Jonathan administration, according to statistics in his favour.

As part of campaign promises leading to the 2011 elections, President Jonathan  laid out ambitious targets to raise food production such as rice and cocoa by 20 million tonnes within four years after his 2011 election victory.

In 2012, the first measurable year since the President’s pledge, food output was in excess of an additional 8.1 million tonnes. This performance contrasts with the ministry’s target of 5 million tonne. An out performance of 62%.

Nigeria is the world’s second rice importer, according to US Agricultural Department statistics. Adesina says Nigeria will stop importing rice and double cocoa production to 500,000 tonnes by 2015.

“We have launched an aggressive rice production programme to make us self-sufficient in rice and we put in place incentives for private sector to produce rice locally and it’s working.”

He disclosed that Nigeria built 14 new rice mills in 2012 with capacity to produce 250,000 tonnes. Private Sector Investment in the sector was $8 billion, according to the minister.