December 3, 2018
The Central Bank Governor, Godwin Emefiele, has said that Nigeria’s monthly food import bill fell from $665.4m in January 2015 to $160.4m as of October 2018.
He said the reductions in food import were recorded on rice, fish, milk, sugar and wheat, adding that the policy would be maintained.
He said, “Noticeable declines were steadily recorded in our monthly food import bill from $665.4m in January 2015 to $160.4m as at October 2018; A cumulative fall of 75.9 per cent and an implied savings of over $21bn on food imports alone over that period.
“Most evident were the 97.3 per cent cumulative reduction in monthly rice import bills, 99.6 per cent in fish, 81.3 per cent in milk, 63.7 per cent in sugar, and 60.5 per cent in wheat….Read more