Home Business Govt saves $5m daily from ban on rice, wheat imports
Govt saves $5m daily from ban on rice, wheat imports
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Govt saves $5m daily from ban on rice, wheat imports

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The Minister of Agriculture, Chief Audu Ogbe yesterday in Kano said the policy on the ban of importation of rice and wheat has enabled the country to save $5 million daily.

Chief Ogbe, who spoke in Garun Baba village in Kano during this year’s wheat farm harvest ceremony, said the importation of rice, wheat and some other cereal crops through land borders, as well the raising of tariffs on them, have been saving the nation $5 million daily.

“The tariff increase introduced in December last year saw the import duty on rice increased from 10 to 60 per cent in an effort to increase local production of the product,” he said.

Chief Ogbe added that the policy option has created wealth for local farmers and those in the farm produce value chain.

“The rice you grow, the wheat you grow is saving Nigeria a lot of money. Before now we were spending N5 billion a day importing rice from Thailand. Now that money is in the hands and pocket of farmers in Kano, Jigawa, Kebbi and other parts of the country.

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