The Federal Government said it has reduced the country’s import bill by 41 per cent.
President Goodluck Jonathan who disclosed this during his New Year address to the nation last Wednesday, said the drop in the food import bill was a result of the agricultural revolution of his administration.
“We are witnessing a revolution in the agricultural sector and the results are evident. We have tackled corruption in the input distribution system as many farmers now obtain their fertilizers and seeds directly through an e-wallet system. In 2013, 4.2 million farmers received subsidized inputs via this programme. This scheme has restored dignity to our farmers.
“Last year we produced over 8 million metric tonnes of additional food; and this year, inflation fell to its lowest level since 2008 partly due to higher domestic food production. Our food import bill has also reduced from N1.1 trillion in 2011, to N648 billion in 2012, placing Nigeria firmly on the path to food self-sufficiency.
“The sector is also supporting more jobs. Last year, we produced 1.1 million metric tonnes of dry season rice across 10 Northern states; and over 250,000 farmers and youths in these States are now profitably engaged in farming even during the dry season,” the President stated.
He also said that Nigeria has moved from being a net importer of cement to becoming a net exporter as a result of his administration’s backward integration policy.
The President said: “I am pleased to note that as a result of our backward integration policies, Nigeria has moved from a country that produced 2 million metric tonnes of cement in 2002, to a country that now has a capacity of 28.5 million metric tonnes. For the first time in our history, we have moved from being a net importer of cement to a net exporter. Foreign direct investment into Nigeria has also been strong. In fact, for the second year running, the UN Conference on Trade and Development has named Nigeria as the number 1 destination for investments in Africa.”
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.