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Local rice production has been projected to reach 2.7 million metric tons in 2017 if government policy of restricting importation is strictly adhered to, according to Economic Research Service of the United States Department of Agriculture (USDA).
The report said that government policy of limiting rice importation has led to a drop in the importation of the commodity by as much as 300,000 metric tons in the first half of 2016.
The country, known for agricultural product exports in the 1960s, grew to become the world’s second largest rice importer with the advent of oil exploration. The report has it that between 2005 and 2015, Nigeria’s monthly import bill rose from N148 billion to N917 billion.
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