Public Management

Nigeria's wheat importation for Q1 2021 valued at $625 million

Nigeria's wheat importation for Q1 2021 valued at $625 million
Wednesday, 09 June 2021 17:55

Trading reports from the Nigerian National Bureau of Statistics show that the country spent N258.3 billion (about $625 million) during the first quarter of this year to import wheat to meet up with the country’s food security.

Wheat, which falls among the most imported goods for the period, accounted for 3.77 percent of total imports (mainly imported from Lithuania and Latvia). According to the Standard International Trade Classification, Nigeria imported $162 million worth of Durum wheat from Lithuania, about $100 million from Latvia, and another $100 million from Canada.

In the quest to meet up with the fast-growing population, the country turns to import since it produces only about 2% of the total wheat consumed. According to IJAEMD, Nigeria is constantly caught up in a “wheat trap” where its growing population’s demand for wheat products - flour and flour-based foods- keeps increasing.

Key food staples produced from wheat flour such as semolina, bread, noodles, and pasta among others form a regular part of daily meals in most Nigerian households, thereby resulting in the increasing demand in wheat importation.

Efforts made by various stakeholders – State Governments, FMAN, WFAN, LCRI National Agricultural Seed Council, and CBN- in boosting local wheat production in recent years has been disrupted by the Boko Haram insurgency in the North-Eastern region of Nigeria which is the major wheat production area. Added to that, the novel coronavirus is another obstruction, with the recent movement restrictions imposed to control the pandemic creating significant challenges for wheat farmers.

Solange Che

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
World Bank opens first resident representation in Malabo, led by economist Juan Diego Alonso. Mandate focuses on inclusive growth, private-sector...
Nearly half of spending directed to social programs amid growth, financing pressures Lawmakers debate sustainability and external financing as...
The Central Bank reduces its policy rate to 9%, marking a ninth consecutive cut. Inflation remains contained at 4.5%, within the 2.5%–7.5% target...
Africa’s factoring volume rose from €21.6 billion in 2017 to €50 billion ($58.17 billion) in 2024. Afreximbank says the continent must...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

BCEAO keeps key lending rate at 3.25% and marginal rate at 5.25%. UEMOA growth reaches 6.6%...

WAEMU Bloc Holds Rates Steady as Growth Hits 6.6%
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.