Nigeria’s Imports of Wheat Decrease as Business with Russia Drastically Declines.

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In the first nine months of 2022, Nigeria imported durum wheat worth N753.6 billion, a 16.1% decrease from the N898.2 billion in durum wheat imports during the same period in 2021.

The ongoing conflict between Russia and Ukraine since February 2022 may be to blame for Nigeria’s decline in wheat imports, as the majority of Nigeria’s wheat imports originate from these two nations.

Russia did not, however, rank among Nigeria’s top import sources in 2022.

Further examination of the NBS report revealed that Nigeria imported sulphur worth N517.9 million and frozen seafood worth N1.19 billion in Q3 2022.

The recent development may present Nigeria with an opportunity to enhance its  local production to meet the demand gap in the country and save itself a massive $2 billion in massive import bill payments for the importation of wheat.

Nairametrics

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