Nigeria: FG imported N135bn Agricultural equipment in 4 years.

Nigerians imported agricultural equipment valued at N135.8 billion ($424.5million) in the last four years, New Telegraph has learnt. The equipment was shipped to the country between 2012 and 2015. Some of the machines are plough, irrigation sprayers, cutters and shredders, harvester, scrapers, seeders and blowers. International Trade Statistics (ITS) revealed that in 2012, the country spent $112 million; 2013, $72 million; 2014, $168.5 million and in 2015, $38.05million was expended on machinery. The United Nations Food and Agriculture Organization (FAO) revealed that the country was one of the least among the mechanized farming countries in the world. It said that Nigeria needs a minimum of 746, 666 tractors equipped with tillers and other support gadgetry to sufficiently mechanize agriculture in line with the best practices. However, the organization said that the country had only 30,000 tractors in 2013, adding 1,000 new ones each year are not enough to replace the ageing, worn out, and broken down ones.
Just last year, the Bank of Agriculture planned to collaborate with six companies to procure 400 tractors and other farming implements for mechanized farming in the country. It was revealed that the country has only one tractor for every 4,100 farmers. Its tractor density is put at 0.27 horsepower per hectare (hp/ hectare). The organization noted that the country was blessed with around 12.3 million farmers, making it the 14th in the world. Meanwhile, the National Bureau of Statistics (NBS) in its foreign trade reports said that Nigeria imported a total of N738 billion worth of agricultural products into the country in 2015. Also, the country imported N8.68 tri l lion ($43.42 billion) motorcycles, vehicles, tyres and spare parts in the last six years. During this period, Nigeria imported various vehicles valued at $31.669 billion, tyres and spare parts gulped $6.279billion, while motorcycles were $5.465 billion. According to information obtained from the National Automotive Council (NAC), Nigeria was spending N600 billion on vehicles importation. It noted that about 50,000 new and 150,000 used vehicles were imported into the country yearly. Also, NAC added that some tyres and threads off laps and inner tubes valued at, $1.132 billion in 2010; $1.051billion; 2012, $1.005 billion and 2013, $1.312 billion were shipped into the country. The council stressed that motor cycles gulped $898 million in 2011; $1.021billion in 2012 and $1. 12billion in 2013. The council noted that the current market demand for new and used vehicles was 400,000 annually, noting that N260 billion was being spent to import tyres and spare parts annually.

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *