‘Nigeria losing $30bn to imported food items’

THE Fedeeral Government has been advised to invest more in the areas of agricul­tural development and food processing to save Nigeria an estimated $30 billion expend­ed on importation of foreign foods and agro-allied prod­ucts annually.
Foremost industrialist and President/CEO of Erisco Foods Limited, Chief Eric Umeofia, who stated this in an interview with Daily Sun in his Lagos office decried such huge capital flight aris­ing from Nigerians; support for farmers and agro-allied processors in China and India to the detriment of the local economy. He urged the Mu­hammadu Buhari administra­tion to demonstrate the neces­sary courage to ban imports of foods and to encourage the growth and sustenance of indigenous investments in the agricultural and food pro­cessing business. The Erisco Foods boss who attributed the rising cases of renal failures and other terminal diseases among Nigerians to the con­sumption imported foods including tomato paste from Asia, said the easiest way to check such ugly trends would be to ban substandard foods coming into the country.
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