FG Prioritising Ending $10bn Food Imports – Kyari

Minister of Agriculture and Food Security, Abubakar Kyari, emphasized the government's commitment to ending the $10 billion annual food imports in Nigeria. Despite the country's vast arable land and human resources, Nigeria still heavily relies on imports for items like wheat, rice, sugar, fish, and tomato paste.

Kyari stressed the importance of achieving food sovereignty to ensure Nigerians do not go hungry and reduce dependency on imports. The ministry is working on a framework to improve food transport infrastructure, including roads and ports, to enhance efficiency in the supply chain and reduce costs.

Kyari also highlighted the need for investment in agriculture, infrastructure, and value addition to transform the sector into a key driver of the economy. First Bank, a key player in agricultural finance, has been supporting farmers, processors, and exporters to boost the agricultural sector's growth.

The bank's Managing Director, Olusegun Alebiosu, emphasized the importance of diversifying the economy beyond oil and leveraging the vast opportunities.