Vice President Yemi Osinbajo has said the country’s rice imports have gone down by two percent as the government increases plans to diversify the economy.
Osinbajo said this on Tuesday at the National Economic Summit in Abuja, the country’s capital.
According to him, “In diversifying the economy, agriculture has been a major success story, with increasing budgetary allocation to agriculture from N8.8 billion in 2015 to N46.2 billion in 2016 and N103.8 billion in this particular cycle.”
He added that “Today, but for a few drawbacks, we are confidently approaching self-sufficiency in rice production.
“From importing $5 million dollars of rice every single day, official imports are now down to 2%. If you note, I said official imports are down to 2%.”