A sensitisation exercise tagged:
“Revamping Agricultural Sector in
Nigeria Through Aggressive Industrial Farm Park Project”, was held recently in Lagos, organised by
the management of 1.2 Green Limited in
partnerships with Chinese Government Export Credit.
The exercise, according to the
organisers, was organised to discuss
ways in revamping the Agricultural sector through
aggressive industrial farm park project.
According to Mr Obada Votu, CEO
1.2 Green Ltd, expressing the
company’s readiness and willingness to assist the government in
resuscitating this crucial sector stated, “This crucial sector should not be neglected, but should be given the needed attention.
Nigerian became a net importer of food
and major importer of wheat, rice, sugar
The importation of
these four commodities, according to reports, consume over N1 trillion in foreign exchange every year
“The CBN report shows that
Nigeria is the world largest importer of
United States hard red and white
winter wheat, with an annual food import of N635billion.
Nigeria’s food imports are growing at an unsustainable rate of 11 per cent
per annum, while reliance on the
import of expensive food in the global market fuels domestic inflation, and Nigeria is
importing what it can produce in abundance.
And that import dependency is
hurting Nigeria’s farmers, displacing
local production and creating rising unemployment,” he added Stating further that, there is need
for stakeholders to reduce the importation of these products that can be produced in Nigeria.
“Nigeria spends N1 trillion annually to import rice, sugar,
wheat and fish, translating to N10 trillion from 2005 till date.
The Nation has vast arable land for cultivation, adding that this must be harnessed by stakeholders in
order to effectively prevent food crisis considering the growing population and reduce imports
to the barest minimum.