JANUARY 23, 2025
President Allocated N9.74Billion Supplying Rice, Beans to Nigerian Cities in 2024
In 2024, the Nigerian government, led by President Bola Tinubu, allocated N9.74 billion for the procurement and distribution of essential food items, including rice, beans, and maize, to support food manufacturing shortages.
The Federal Ministry of Agriculture and Food Security spearheaded this initiative, distributing approximately N85.45 million per federal constituency between February and November 2024. These funds were utilised to supply essential food items to various regions around the nation, including Kano, Ogun, Osun, Akwa Ibom, Cross River, Lagos, Bauchi, Rivers, Borno, and more.
Despite the substantial financial commitment, concerns have been raised regarding the program's efficacy in addressing the underlying causes of food insecurity. With Nigeria's population increasing by 2.3% year on year, the demand for food essentials is continuously increasing. Resulting in a even heavier dependency on imports to meet demand. At present a number of food manufacturing initiatives and campaigns are in place or being developed, however non have been effective in successfully reducing the need for importation.
To find out more about the African F&B sector, Click Here.
If you are interested in exporting to West Africa or grow your market share in one of the world’s fastest-growing economies in 2025, the FAB West Africa team can help reach your targets. Click Here to speak to a member of the team and find out more.