Food imports exceed exports by N2.23tn in 12 months 

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The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed.

Despite interventions by the Federal Government to diversify the economy and increase food production in the country, security concerns have driven a lot of farmers out of their livelihood.

Figures obtained from the National Bureau of Statistics revealed that while Nigerian farmers exported goods worth N127.2bn in the first quarter of 2021, the country imported N630.2bn goods.

In the second quarter, agricultural goods worth N165.27bn were exported while import value was N652.08bn.

The NBS figures on foreign trade statistics revealed that Nigeria’s exported agricultural foods goods were worth N79.4bn and N132.71bn in the third and fourth quarters, while the import values were N789.1bn and N667.16bn respectively.-The Punch

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