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Nairaland Forum / Nairaland / General / Politics / Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 (5996 Views)
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Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by prettyG: 4:59pm On Jul 19, 2011 |
The Nigerian food import bill between 2007 and 2010 was N98 trillion, according to Dr Akinwunmi Adesina, the new Minister of Agriculture. http://dailytimes.com.ng/article/nigeria-spent-n98tr-food-importation |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:13pm On Jul 19, 2011 |
really ? and where did nigeria get 98 trillion from ? na beans ? |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:14pm On Jul 19, 2011 |
this equates to $612 billion. na beans ? |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by EzeUche(m): 5:15pm On Jul 19, 2011 |
"Over N635 billion was spent to import wheat, N365 billion on rice, N217 billion on sugar and N97 billion on fish importation." It is not good for a nation to not be self-sufficient when it comes to food production. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:16pm On Jul 19, 2011 |
where is this money coming from ? i know oil aint paying that much |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by EzeUche(m): 5:24pm On Jul 19, 2011 |
buzugee: That money is coming from the Nigerian people. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:33pm On Jul 19, 2011 |
EzeUche:taxes ? nigerian people dont go abroad to buy food. so am assuming the govt is doing all the buying. is it from taxes or oil ? oil revenue annually is like 70 billion. where does the rest come from ? |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by EzeUche(m): 5:34pm On Jul 19, 2011 |
buzugee: The people themselves are importing the food. Private distributors are importing the food and selling it to Nigerians for higher prices. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:37pm On Jul 19, 2011 |
EzeUche:ok, so that means there is huge circulation of money in nigeria, around $9250 per person is spent on food annually. doesnt sound like a poor country to me. sounds like yall eating good. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:40pm On Jul 19, 2011 |
either that or somebody inflating the figures. $9250 per person annually yall eating like kings out there |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Mobinga: 5:46pm On Jul 19, 2011 |
Such farcical journalism! |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by buzugee(m): 5:48pm On Jul 19, 2011 |
Mobinga:right lol |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Ibime(m): 6:56pm On Jul 19, 2011 |
First off, I doubt the accuracy of the figure. Second off, a lot of posters are asking ridiculous questions. Who told y'all that Imports have anything to do with National budget? The National budget is only about N4.7 trillion. When a country is said to import certain amount, it refers to the citizens of the country importing stuuf (Dangote et al). I would expect our imports to exceed our National budget ($27bln) and our oil income (which is roughly equal to the budget), but the only reason I doubt the figure is that it is higher than the GDP ($300 bln) which is the combined worth of the whole country. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by edoyad(m): 7:50pm On Jul 19, 2011 |
98trn kobo you mean |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by jmaine: 9:53pm On Jul 19, 2011 |
edoyad: E be like so !!! |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Geomel: 11:50am On Jul 20, 2011 |
That is great but excess money is involved. We sell properties in the main land and island for more www.geomelproperties..com |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Gbenge77(m): 11:55am On Jul 20, 2011 |
Amazing. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Electro(m): 11:56am On Jul 20, 2011 |
yepa!!!! if dat true den u guys better cut down on ur meals |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by BigMeat2: 12:02pm On Jul 20, 2011 |
We're trully blessed and enjoying the better things in life. On the other hand, what will happen to our economy if the stated amount is what we receive for exporting those food items to other countries. We can and able to provide these foods, why importing. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by benimeogu(f): 12:02pm On Jul 20, 2011 |
And |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by blacksta(m): 12:10pm On Jul 20, 2011 |
No wonder the country is messed up - people are busy eating their sorrow away |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Yinkay: 12:26pm On Jul 20, 2011 |
About N1.2trillion on carbohydrates and sugar alone, no wonder Pile,diabetes,jedijedi is common, compared to the protein of only 97billion provided the figure is accurate. It is a pity most of the food items can be grown locally if we embrace agriculture more. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Reference(m): 1:00pm On Jul 20, 2011 |
Its very hard to determine but if there are about 150 million souls in this country and they spend an average of 200 naira a day on food (as a thread reported earlier) then we are assuming a total food bill of 30 billion a day and something like 11 trillion naira per annum. Now we may argue that with a vast proportion earning less than (1 US dollar) 155 naira a day how is this possible and counter it with the fact that a lot of people earn that low but grow some of their own food then it might just be possible. Now just how much of this is imported, dunno. But a pantry worth 33 trillion over 3 years (2007 - 2010) is a far cry from the figures bandies about by dear minister. That's just hogwash. Hope it isn't a smoke screen for shady deals and illegal capital flight. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by shady26(m): 1:08pm On Jul 20, 2011 |
R u all dumb?or cant u read.it says the amount accounts for food import over a spread of three yrs 2007-2010.nd who says all d money circulating in nigeria is from oil export?now dats wrong.wat about yahoo yahoo,charlie white traffiking,prostitutes in diaspora,hustlers in diaspora,legit diaspora etc plus unccountable crude frm missing vessels nd bunkering.open ur eyes!naijas' foreign xchange earner lies in numerous activities(runs),our oyinbo friends cannot lay there finger on talk mor of takin stats |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Zikkyy(m): 2:20pm On Jul 20, 2011 |
Ibime: Our forex income is mainly from oil. if imports exceeds forex income, government will have funding issues. I also don't think the figure is accurate. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by lafile(m): 2:36pm On Jul 20, 2011 |
The figure quoted was for a four year period between 2007 and 2010. |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by ronkebp(f): 3:13pm On Jul 20, 2011 |
with all the money they claim they spend on food, why is it that they are still expensive ? at least food should be cheap if not cheaper gan sef!!! |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Johnpaul2k2(m): 3:23pm On Jul 20, 2011 |
YET NORTH ARE CLAIMING TO BE CHIEF OF AGRICULTURE IN AFRICA |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Natasha2(f): 3:28pm On Jul 20, 2011 |
Don't think the figure is correct but I'm not surprised I mean why should i? for a country that imports TOOTHPICK |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by Sike(m): 3:36pm On Jul 20, 2011 |
Congratulation 9ja! |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by BashMe1(m): 3:57pm On Jul 20, 2011 |
Se Ejo Le Wa Ro, Dem Just Dey Run Their Mouf, |
Re: Nigeria Spends N98 Trillion Importing Food Between 2007 And 2011 by na2(f): 4:22pm On Jul 20, 2011 |
wether figure corret or not is not the issue but why a country as big and gifted ( with both human and natural- agriculturer and mineral resources) as nigeria should be importing food its a big shame we havent still identified our problem let alone finding solutions. lets keep breathing fresh air we are indirectly paying for with death traps as roads and some cluesless groups claiming rights over others lives while a microscopic few are loothing whatever they can for their generations yet unborn lets watch and see how far it goes, |
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