‘Over $6bn Spent On Wheat Import’

Over $6billion wheat were imported in the last five years, it was learnt. The huge amount of money, findings revealed, was used to import the commodity between 2016 and August 2020.

Sources at the Federal Ministry of Finance (FMoF) said, about 30 million tonnes of wheat was imported during the period.

Wheat is used by Flour Mills of Nigeria (FMN), Kings Flour Mill, Honeywell Flour Mill, Crown Flour Mill (CFM) and Dufil Group (De United) to produce noodles, wheat flour, semo and other staples.

The US Department of Agriculture (USAD), had explained that the country spent $1.2billion in 2016; $1.5billion in 2017 and 2018, $1.65billion, making the country one of the top buyers of Hard Red Winter (HRW) and Soft Red Winter (SRW) wheat the global market.

In February, this year alone, USDA said the country ferried 132,800 tonnes, noting that about 168,690 tonnes were shipped to Lagos Port complex and Calabar Port.

Sources at the Federal Ministry of Finance (FMoF) said, about 9million tonnes of wheat was imported between December 2019 and August this year.

Record, by the Nigerian Ports Authority’s (NPA’s) shipping position indicated that West Bay 22,000 tonnes and Star Dorado, 13, 200 tonnes are expected at Greenview Development Nigeria Limited (GDNL)and SFM at the Lagos Port Complex.