Nigeria Reduces Rice Import From Thailand By 1.23 Million Metric Tonnes

Nigeria has cut rice importation from Thailand by over 1.23m Metric Tonnes in seven years.

The development is attributed to President Muhammadu Buhari’s drive to reduce Nigeria’s dependence on rice importation.

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Nigeria at the end of 2021 imported only 2,169 MT of rice from Thailand which is valued at $907,166.6 (N376,283,640).

Compared to 2014, Nigeria imported 1,239,810MT of rice worth N213.98bn from Thailand alone.

This is based on a document from Thai Rice Exporters Association which was obtained by THE WHISTLER.

While Thailand is losing huge revenue, Nigeria has saved billions within the seven years under review, the document revealed.

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When Buhari assumed office in 20215, the data revealed that rice import from the Asian country fell by almost half to 644,131MT from the 1,239,810MT recorded in the previous year.

This was the same year that the Central Bank of Nigeria introduced the Anchor Borrowers Programme which has financed over millions of farmers.

To intensify the campaign against rise importation, the CBN flagged the staple as one of the ineligible items for foreign exchange.

Locally, the development has widened the price of rice from N10,000 sold per 50kg in 2014 to around N29,000.

By 2019, the Federal Government closed land borders which further curbed smuggling of foreign rice among other commodities.

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According to the document, rice imports from Thailand fell to 6,537 MT, but rose marginally to 9,656 MT in 2019.

By 2020, only 5,050 MT of rice was shipped into Nigeria from Thailand.

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