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In the first quarter of 2024, food imports accounted for 17% of Nigeria's total dollar spending on imports, reaching a five-year high.
The National Bureau of Statistics reported that the food import bill surged by 95.28% to approximately N920.54 billion, up from N471.39 billion in the same period last year. This increase occurs despite the government's declaration of a state of emergency on food production, highlighting the ongoing challenges in achieving food self-sufficiency amid soaring food inflation and a reliance on imported goods.
Citations:
[1] https://twentytendaily.com/food-imports-gulps-1-24bn-in-6-months/
[2] https://businessday.ng/agriculture/article/nigerias-food-import-hits-5-year-high/
[3] https://nairametrics.com/2024/07/29/nigerias-imported-food-inflation-jumps-to-36-38-in-june-2024-on-weak-naira/
[4] https://thejunction.ng/nigeria-food-imports-bill-gulps-7-8-in-6-years/
[5] https://punchng.com/agric-imports-gulp-n12tn-despite-nine-year-anchor-borrowers-scheme/
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