Nigeria Imports N1bn of Rice Daily

N1billion. That is, according to the Arewa Consultative Forum’s former president, how much rice Nigeria imports every day.

Addressing shareholders of Jamaiyar Matan Arewa during a meeting, Alhaji Aliko Muhamed said spending so much on rice imports was needless given Nigeria’s assets. Comparing to China, he said: “China has a population of around 1.3 billion people but they don’t import food. They are able to feed themselves while Nigeria which has a population lower can’t feed its people without imports.”

He then called on government at all levels in the country to take necessary measures to reverse the trend. Muhammed also asked Nigerian women to urge their husbands to turn to agricultural activities.

This speech comes as Nigeria’s economy presently experiences some turmoil resulting from fall in price of oil. The situation which has driven authorities to turn to other sources of revenue places agriculture as a valid alternative to oil and gas.

– Aaron Akinocho

Hot this week

Stanbic IBTC Reinforces Capital Markets Leadership Through Dangote Refinery IPO

Stanbic IBTC Holdings Plc has reinforced its position as...

CBN Bags NES Distinguished Organisation Award for Economic Reforms

The Central Bank of Nigeria (CBN) has received the...

Leadway Assurance Backs ISSP Initiative to Deepen Insurance Penetration, Consumer Trust

Leadway Assurance, Nigeria’s leading insurance services provider and a...

RMB Nigeria Advises on BOI’s N274.18bn Domestic Bond Issuance

L-R: Head, Debts Capital Markets, RMB Nigeria, Laju Atake;...

LG Electronics Highlights Seven Home Appliances at IFA 2026

As routines and lifestyles evolve across Europe, consumers are...

Topics

MTN Plans FCFA140bn Expansion in Côte d’Ivoire

MTN Cote d’Ivoire said on 10 June, 2016 that...

Great Nigeria Insurance Targets Top 5 Ranking via Optimal Performance

Cecilia Osipitan Managing Director/CEO Great Nigeria Insurance Plc To position it for...

Stanbic IBTC Asset Management Bags Top Asset Management Award 2026 by Global Banking & Finance Review

In a noteworthy achievement in Nigeria's asset management landscape,...

MTN Settles NCC Fine with N330bn, To List on NSE

MTN Nigeria and the Nigeria Communications Commission (NCC) have...

Daily Economy to Mark 2nd Anniversary with Insurance Book Launch

Daily Economy Concept, the Publisher of Daily Economy, a...

Nigerian, South African Gas Take Centre Stage at African Energy Chamber-Gazprom Roundtable

Various speakers at the international roundtable on natural gas...

Before You Switch From One PFA to Another

The pension industry in Nigeria has evolved over the...

FG Reiterates Commitment to Utilise Gas for Economic Growth, Prosperity

Deputy Governor of Imo State, Lady Chinyere Ekumaro cuts...