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    Nigeria Imports N1.7trn Rice In 10 Years

    Nigerian rice merchants imported 24 million metric tons of rice valued at $8.86 billion (N1.77 trillion) from Thailand, Pakistan, India, United States and Vietnam in the last 10 years, New Telegraph has learnt. The imports were shipped between 2006 and 2015. In January 2006, the price of the commodity soared from $284.45 to $369 per metric ton.

    Statistics revealed that in 2006, the country imported 1.5 million metric tons; 1.8 million metric tons in 2007; 1.75 million tons in 2008; 1.75 million metric tons in 2009 and 2.4 million metric tons in 2010. In 2011, the nation also imported 3.2 million tons; 2.8 million tons in 2012; 2.8 million tons in 2013; 3.5 million tons in 2014 and 2.5 million tons in 2015. Data from the Nigerian Ports Authority (NPA) revealed that 70 per cent of the imports were shipped through the approved neighbouring land borders and illegal routes.

    Over 1.8 million metric tons of rice loaded in 30,000 trucks was routed via transit shipments through Niger to the northwest of Nigeria in 2015 alone. The commodity is valued at N144 billion ($720 million). The data revealed that the imports rose by 20 per cent in 2007, while it declined by -2.78 per cent in 2008.

    In 2009, Nigeria imported the same quantity when the price rose to $615.25 per metric ton. However, the price of the commodity had increased by 37.14 per cent when it imported 2.4 million tons.

    In 2011, the importation was boosted by 33.33 per cent but declined to -12 per cent in 2012 and 2013. However, the country’s demand rose by 25 per cent despite the restriction placed on rice importation.

    Last year, the commodity went down by -29 per cent due to government policy on tariff and activities of smugglers. Between 2012 and 2015, the Central Bank of Nigeria (CBN) said that Nigeria spent a whopping $2.41 billion on rice importation. Governor of the CBN, Godwin Emefiele, at the New Telegraph Economic Summit held last week, disclosed that the amount was spent between January 2012 and May 2015.

    “Nigeria consumes parboiled rice exclusively, but Benin prefers white rice. It is easy to deduce that the 85 per cent share of Benin imports that are parboiled are bound for Nigeria through the smugglers.”

    According to the United Nations Food and Agricultural Organisation (FAO), there is a renewed demand by Nigeria. In 2010, the country took delivery of 2,400,000 tons of milled rice from Asian countries and America; 3,200,000 tons in 2011; 2,800,000 tons in 2012; 2,800,000 tons in 2013 and 3,500,000 tons in 2014. The council said that Nigeria’s overseas rice purchases were highly concentrated among just a few major trading houses.

    The Rice Processors Association of Nigeria has 22-member companies that lobby government to maintain import duties and rein in illegal shipments from Benin.


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