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CBN needs to pursue bankable policy to reduce Nigeria s $1 5 billion import bill on Wheat

Nigeria boasts of 34 million hectares of arable land area, with about 6.5 million hectares for permanent crops. Little wonder, Agriculture serves as the country’s main driver of the economy after oil. But despite the goodies in the sector, the country imported wheat worth N2.2 trillion in the last four years.

Unlocking the full potential of the food industry in Nigeria

In Nigeria, the food industry is one of the largest sectors of the economy accounting for 21 percent of annual national GDP, with about 70 percent of the population involved in agricultural activities (Statista 2019).

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