PANAPRESS
Panafrican News Agency
'Nigeria loses US$10b export opportunities in agric sector annually'
Lagos, Nigeria (PANA) - As Nigeria has changed from an exporter of commodities to a mass importer over the years, the country is now losing US$10 billion annually in export opportunities in the agriculture sector, according to Minister of Agriculture Akinwumi Adesina.
The local media Thursday quoted Dr. Adesina as saying that years of neglect by previous governments had led to a rapid decline in the agriculture sector.
“Nigeria is losing about 10-billion-dollar export opportunities in agricultural commodities alone. As we do not produce, we must import. Nigeria imports over N1 trillion worth of rice, wheat, sugar and fish every year. Importation of wheat alone accounts for N635 billion every year,” the minister said (US$1=156 naira).
He expressed regret that Nigeria, which used to export groundnut, cocoa, palm oil and cotton, had fallen completely out of competition.
“Nigeria lost her glory in the world trade of groundnuts. In 1961, the country produced 42 percent of world’s shelled groundnut export. By 2008, Nigeria has fallen completely out of competition as countries like China, USA and Argentina had taken over.
“In 1961, Nigeria was responsible for 27 percent of world’s export in palm oil, but by 2008, the country was producing far bellow expectations.
“In 1961, Nigeria was producing 18 percent of world’s cocoa but by 2008, the country had lost out to Ghana, Cote d’Ivoire and Indonesia,'' the Minister said, adding that Nigeria has also lost its position in cotton production to countries like Mali and Burkina Faso in similar manner.
On how the government will reverse the position, Dr. Adesina said it intended to overhaul the sector to make it viable as part of its vision to place the country among top 20 economies by the year 2020.
-0- PANA SEG 23Feb2012
The local media Thursday quoted Dr. Adesina as saying that years of neglect by previous governments had led to a rapid decline in the agriculture sector.
“Nigeria is losing about 10-billion-dollar export opportunities in agricultural commodities alone. As we do not produce, we must import. Nigeria imports over N1 trillion worth of rice, wheat, sugar and fish every year. Importation of wheat alone accounts for N635 billion every year,” the minister said (US$1=156 naira).
He expressed regret that Nigeria, which used to export groundnut, cocoa, palm oil and cotton, had fallen completely out of competition.
“Nigeria lost her glory in the world trade of groundnuts. In 1961, the country produced 42 percent of world’s shelled groundnut export. By 2008, Nigeria has fallen completely out of competition as countries like China, USA and Argentina had taken over.
“In 1961, Nigeria was responsible for 27 percent of world’s export in palm oil, but by 2008, the country was producing far bellow expectations.
“In 1961, Nigeria was producing 18 percent of world’s cocoa but by 2008, the country had lost out to Ghana, Cote d’Ivoire and Indonesia,'' the Minister said, adding that Nigeria has also lost its position in cotton production to countries like Mali and Burkina Faso in similar manner.
On how the government will reverse the position, Dr. Adesina said it intended to overhaul the sector to make it viable as part of its vision to place the country among top 20 economies by the year 2020.
-0- PANA SEG 23Feb2012
