The World Bank yesterday said Nigeria recorded a $2 billion trade deficit in cereal in 2023.
The World Bank disclosed this in a Report titled: “Transport connectivity for food security in Africa, Strengthening supply chains”.
The report, which examines how four major staples: cassava, maize, rice, and wheat, move across the continent noted that Africa’s agricultural supply chains are strained from the local level to the national, regional, and global levels.
“In 2023, the net cereal trade balance picture varied widely across the continent, with the two largest economies at opposite ends: Nigeria had a negative balance of $2 billion, and South Africa had a net positive balance of $170 million. “Seven countries had negative balances of more than $500 million, 24 had negative balances of $100–$500 million, and 17 countries had negative balances of up to $100 million.
“The region had a negative balance of more than $13 billion on cereals alone.”
World Bank report also stated that Nigeria which is among the largest consumer and major producers of rice still have a spatial mismatch between production and
consumption, for which an efficient transport system is needed to move food around.
“About half of the rice consumed in Sub-Saharan Africa is grown in Africa, and the other half is imported. Many of the largest consumers, such as Nigeria and Tanzania, are also major producers.
“Although some countries in Sub-Saharan Africa are self-sufficient in rice at the national level (e.g., the Democratic Republic of Congo, Nigeria, and
Tanzania), they still have a spatial mismatch between production and consumption, for which an efficient transport system is needed to move food around.
“For example, central Nigeria produces more rice than it consumes; the surplus is transported to the north and south of the country.”
