Nigeria: Grain and Feed Annual
The Central Bank of Nigeria continues to restrict access to foreign exchange in an effort to reduce rapid spending of U.S. dollars outside of Nigeria. This restriction is hindering all direct imports, including food and agricultural products. Post estimates that Nigeria’s MY2016/17 wheat imports will decline by 5 percent to 4.1 million tons. MY2016/17 rice imports are expected to fall 400,000 tons to 2.1 million tons. Declines in corn production are expected to increase MY2016/17 imports to 400,000 tons, a 33 percent increase from the previous year. Sorghum consumption is raised due to sustained demand as substitutes for higher priced grains, such as corn, wheat, and rice. Of the grains discussed, sources note that overall production will not change significantly, despite stalled implementation of government policies, poor infrastructure, and restricted access to fertilizer.
