Nigeria Spent ?51bn on Rice Imports in 2024 as 90 Local Mills Shut Down
BusinessDay reports Nigeria spent ?51 billion ($34.4 million) on foreign rice in 2024, with imports surging to an estimated 2.4–3.2 million metric tonnes during the duty-free waiver period. The Rice Processors Association of Nigeria confirmed nearly 90 of 150+ rice mills nationwide have ceased operations, with the remainder running at 30–70% capacity. The Federal Government met with RIPAN stakeholders on 10 March to address the crisis, with Minister Enoh warning that smuggled rice entering through land borders — priced far below domestic production costs — is undermining investment and discouraging the planting cycle. Analysts say the government faces a difficult balance: maintaining affordable consumer prices while protecting a sector that employs over 100,000 Nigerians.