•Wheat, palm oil dominate imports

By Elizabeth Adegbesan

Despite the various public policies and investment supports to the agricultural sector over the years, there are indications that the sector is still much non-performing.

A report by the National Bureau of Statistics, NBS, has indicated that agricultural imports stood at N443.36 billion in the first quarter of 2022 (Q1’22), exceeding agricultural exports (N201.59 billion) by 120 per cent during the period.

The major agriculture goods imported in Q1, 2022 included Durum wheat (not in seeds) from the United States valued at N71.56 billion and Argentina at N59.04billion. This was followed by crude palm oil from Malaysia and China valued at N13.52billion.

According to the NBS ‘Foreign Trade in Goods’ report for Q1 ’22, the value of agricultural imports fell quarter-on-quarter (QoQ) by 33.5 per cent to N443.36 billion in Q1’22, from N667.16 billion in Q4’21.

However, the value of agricultural exports increased QoQ by 51.9 per cent to N201.59 billion in Q1’22, from N132.71 billion in Q4’21.

The report also showed that the value of total trade in agricultural goods fell QoQ by 19 per cent to N644.94 billion in Q1’22 from N799.87 billion in Q4’21.

NBS stated: “The value of total trade in agricultural goods in Q1’22 stood at N 644.94 billion of which exports were valued at N201.59 billion in Q1’22.

“Exports in agricultural goods increased by 51.8 per cent and 58.3 per cent when compared to the value recorded in Q4’21 (N132.71 billion) and Q1’21 (N127.31billion) respectively.
“On the other hand, total imports of agricultural goods imported in Q1’22 stood at N443.36 billion or 7.51 per cent of total imports in Q1’22.

“This showed a decrease of 33.55 per cent when compared to the value recorded in Q4 ’21 (N667.16 billion) and rose by 8.39 per cent compared to the value recorded in Q1’21(N409.03 billion).”

The federal government has made several agricultural policies to boost food production and security in the country. These policies included the National Accelerated Food Production Programme (NAFPP) 1972-1973; Operation Feed the Nation (OFN) 1976-1980; Green Revolution Programme (GRP) 1981-1983; Go Back to Land Programme 1983-1985, the restoration of the elements of NAFPP after the military coup in 1985, National Special Programme for Food Security (NSPFS) 2003, the National Food Sector Plan (NFSP), Agriculture Transformation Agenda (ATA) 2011, and Anchor Borrowers’ Programme (ABP), introduced in 2015.