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Food Imports Have Reduced From $2.23 Billion To $0.59 Billion – Buhari

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President Muhammadu Buhari

President Muhammadu Buhari said his administration’s agricultural policies including the Anchor Borrowers’ Scheme have led to a sharp decline in agricultural imports into Nigeria, resulting in food import bill reducing from $2.23 billion in 2014 to $0.59 billion by 2018.

The President disclosed this in his Democracy Day statement on Saturday, citing that interventions led by the government have driven economic growth and are targeted mostly at agriculture, infrastructure, power and the healthcare sectors.

Buhari said “In the agriculture sector, Anchor Borrowers’ resulted in sharp decline in the nations major food import bill from $2.23 billion in 2014 to 0.59 billion dollars by 2018. Rice imports dropped from $1 billion to $18.5 million dollars annually,” the president noted.

He added that his administration has supported the local production of rice, maize, cotton and cassava, adding that the government-financed 2.5 million farmers are cultivating about 3.2 million hectares of farmland across the country, creating 10 million direct and indirect jobs.

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Hammed Tajudeen is the editor in-chief of Blaze News, holds Higher National Diploma(HND) in Mass Communication, graduated from Osun State Polytechnic, Iree.

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