• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Nigeria spends N16bn annually to import beans from neighbouring countries – FG

Bamidele Samuel Adesoji by Bamidele Samuel Adesoji
April 19, 2019
in Business News, Politics
Nigeria spends N16bn annually to import beans

Diagonal stripes of brown shaded beans

Share on FacebookShare on TwitterShare on Linkedin

Although Nigeria is regarded as the number one producer of Cowpea (beans) in the world, it has been revealed that the country also spends an estimated N16 billion annually for beans importation from neighbouring countries such as Cameroon and Burkina Faso.

This was disclosed, yesterday, in Abuja by the Permanent Secretary of the Ministry of Science and Technology, Mr. Bitrus Bako, during a training organised for journalists by the Open Forum for Agricultural Biotechnology in Africa.

According to Bako:

RelatedStories

Nigerian Imports,Drugs

Nigeria’s import from Malta reaches new high of N766.81 billion despite controversy 

December 10, 2024
Nigerian Imports,Drugs

African investors contribute only 19.45% of Nigeria’s foreign capital in Q2 2024 

October 10, 2024

“It may interest you to note that Nigeria is the number one producer of cowpea globally. yet, there is consumption deficit of half a million tonnes, prompting imports from neighbouring countries like Cameroon and Burkina Faso which is estimated to cost N16bn annually.”

Recent Developments 

The National Biosafety Management Agency recently approved its first genetically modified crop: the Pod Borer Resistant Cowpea (popularly called beans). This was after it had been genetically modified to resist the pest – Maruca Vitrata, and developed by the Institute For Agricultural Research at the Ahmadu Bello University, Zaria.

Following this development, the cowpea became the first genetically modified food crop to be approved in the country.

Also Read: Nigerians spent N161 billion to import used Vehicles from the U.S in 2018

Import on the rise as Nigeria spent N520bn on foodstuffs, others in 2018

According to the latest import statistics released by the National Bureau of Statistics (NBS), Nigeria’s import for 2018 was estimated at N13.16 trillion. The breakdown of Nigeria’s import data shows that Nigeria’s import increased by 31.6% in 2018.

Also, the Bureau’s report shows that in 2018, Nigeria spent N529bn on Prepared foodstuffs; beverages, spirits, vinegar, and tobacco. The statistics further substantiates the import dependency of the Nigerian economy.

However, cowpea import gap is expected to decline 

According to Bako, who was represented by Director, Special Duties, Mr. James Sule, recent certification of environmental safety of genetically modified beans would help to bridge the gap in production. Also,  the quality of genetically modified beans expected to be released in 2020, would be safe, nutritious, harmless, and insect free.

 “PRIOR TO THE RELEASE, COWPEA (BEANS) PRODUCTION HAS BEEN ACHIEVED ONLY THROUGH EXTENSIVE APPLICATIONS OF PESTICIDES AIMED, IN PART, AT BATTLING THE DEVASTATING BEAN POD BORER. FARMERS WERE FORCED TO SPEND MONEY ON EIGHT OR MORE PESTICIDE APPLICATIONS AT EACH PLANTING CYCLE. YET, THEY STILL LOSE 80 PER CENT OF THEIR YIELDS TO THE VORACIOUS INSECTS.

“WITH BT COWPEA, THE GAP IN PRODUCTION WILL BE BRIDGED AND NIGERIA WILL SAVE N16BN ON ITS IMPORT.”

About genetically modified beans – PBR Cowpea

It has been widely reported that Nigerian beans farmers have faced many challenges such as spraying chemicals about six to ten times in a planting season in a bid to keep off Pod Borer insect, also called Maruca Vitrata.

The Pod Borer insect has the capacity to damage over 80 percent of beans pods. It had remained a sore until Nigerian plant breeders developed a new genetically modified (GM) beans variety called Pod Borer Resistant (PBR) Cowpea.

The new beans variety will ensure farmers spray less chemicals but get a bumper harvest and help transform Nigeria to return to its position as the world’s largest producer of beans.


Follow us for Breaking News and Market Intelligence.
Tags: beansimportationImportation of beans
Bamidele Samuel Adesoji

Bamidele Samuel Adesoji

Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

Related Posts

Nigerian Imports,Drugs
Economy

Nigeria’s import from Malta reaches new high of N766.81 billion despite controversy 

December 10, 2024
Nigerian Imports,Drugs
Economy

African investors contribute only 19.45% of Nigeria’s foreign capital in Q2 2024 

October 10, 2024
food insecurity
Economy

Prices of beans, yam, garri, milk decrease in August, other staples remain high- survey 

August 20, 2024
Tinubunomics bite harder as prices of beans, tomato, garri rise by over 30% in one month
Economy

Tinubunomics bite harder as prices of beans, tomato, garri rise by over 30% in one month

June 24, 2024
Inflation Rate
Economy

Nigeria’s imported food inflation jumps to 29.8% as naira depreciation triggers record high rate

March 18, 2024
Shuaibu Abubakar Audu, Minister for Steel Development,
Manufacturing

Nigeria imports $4 billion worth of steel annually – Minister

February 29, 2024
Next Post
Renmoney launch mobile centers, Fintech companies in Nigeria

Renmoney improves loan access with mobile centres

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • 15 things you don’t need to start a business in Nigeria 
  • NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement
  • Key policies that shaped Nigeria’s tech industry under Buhari’s 8-year rule 

Follow us on social media:

Recent News

Small Business

15 things you don’t need to start a business in Nigeria 

July 15, 2025
NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics