Nigeria aims to checks rice-smuggling and economic implications of border closures

Nigeria is embarking on a mission to combat the significant challenge of rice smuggling with the partial closure of its western border with the Republic of Benin. The move comes as the country aims to reduce its reliance on imports and enhance its local production capabilities to meet the high demand for rice within its borders. According to Tilewa Adebajo, CEO of CFG Advisory, Nigeria is currently a top 20 rice producer globally, ranking number 17 and generating around 4 million metric tons of rice annually. However, the nation's consumption surpasses its production, with a shortfall of about 3.5 million metric tons. To bridge this gap, Nigeria is implementing an import substitution industrial strategy in a bid to boost local production and potentially export to neighboring countries in the West African subregion. This approach is part of a broader effort to enhance food security and reduce the reliance on foreign exchange for rice imports. While the partial border closure aims to curtail the influx of smuggled rice, it also raises concerns about potential economic implications and the need for comprehensive management and investment in the agricultural sector.