Public Management

Every year, Nigeria loses $9 billion due to poor food storage

Every year, Nigeria loses $9 billion due to poor food storage
Friday, 28 May 2021 05:04

Food wastage caused by improper food storage costs Nigeria about N3.7 trillion (About $9 billion) yearly. The figure was recently disclosed by John Onojeharho, chairman of the governing council of the Nigerian Institute of Transport Technology (NITT). This was at the 8th Nigeria Annual Transport Lecture held in Lagos on the topic “Cold Chain Logistics”.

“Nigeria is ranked 1 percent in terms of cold chain management. The market is huge and if properly tapped, we can save $9 billion annually by avoiding food wastage through proper storage,” said Mr. John Onojeharho.

One of the key reasons for massive waste is the lack of a temperature-controlled supply chain to prevent fresh foods from spoiling during transportation from the farms to the end-users. For example, it is estimated that more than 40% of tomato production does not reach consumers. 

Efficient logistics is crucial for any country’s economic growth. In the case of Nigeria, NITT’s chairman added that its cold chain logistics issues are overall attributed to poor road infrastructure, continuity of the cold supply chain, high capital investment, power supply.

More than 12% of Nigerians suffer from undernourishment. Yet every year, the country loses and wastes 40% of its total food production. As indicated on the Global Food Security Index two years ago, food security will worsen looking at the country’s fast-growing population that is expected to reach about 400 million by 2050. 

Solange Che

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Guinea raises mandatory repatriation of mining export revenues to 60–70%, from 50% Government introduces stricter financial controls to boost foreign...
Inflation slowed to 9.7% in February 2026, maintaining single-digit levels since December 2025 The central bank maintained its tight monetary policy...
Kenyan banks lent 326.5 billion shillings to MSMEs in 2025 Lending exceeded 150 billion target, driven by industry initiatives Rising...
Unilever Nigeria hit a decade-high profit in 2025, with its net income doubling to reach $21.2 million, or 214.3 billion naira Nearly 60% of...
Most Read
01

Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...

Drugmakers ramp up competition in South Africa’s obesity treatment market
02

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
03

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
04

WAEMU posts 3.31 trillion CFA francs trade surplus in Q4 Exports surge 50.4%, led by gold, ...

WAEMU Trade Surplus Widens to $5.8 Billion in Q4 2025 on Strong Export Gains
05

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
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.