The Nigerian Export Promotion Council (NEPC) has expressed deep concern over the country's continued reliance on rice imports, which currently costs the nation approximately $480 million annually. This expenditure highlights a significant challenge for Nigeria, as it strives to achieve self-sufficiency in rice production while grappling with rising import costs.
Despite ongoing efforts to boost local rice production through initiatives such as the Anchor Borrowers Program (ABP), which has invested over N1.08 trillion in the agricultural sector over the past eight years, Nigeria remains one of the largest importers of rice globally. The latest reports from the United States Department of Agriculture (USDA) project that Nigeria will import around 2.3 million metric tonnes of rice in 2024, marking a 10% increase from previous estimates due to heightened domestic demand and quality concerns regarding locally produced rice.
The rising costs of fertilizers and other farming inputs have made it increasingly challenging for local producers to compete with imported varieties, which are often perceived as higher quality.
Many consumers prefer imported rice due to perceived quality advantages over local varieties. Despite improvements in production techniques and increased milling capacity, local rice quality has not consistently met consumer expectations.
The recent depreciation of the Naira has further exacerbated the situation, increasing the cost of imports and reducing the competitiveness of locally produced rice.
The NEPC urges stakeholders in the agricultural sector to collaborate more effectively to enhance local production capabilities. This includes investing in modern farming techniques, improving access to financing for farmers, and addressing infrastructure challenges that impede agricultural development.