How rice fared in 2019 highlights from the nigeria rice industry report 2020

According to the Nigeria Rice Industry Report 2020, here are some highlights on how rice fared in 2019:

Production:

• Nigeria's rice production in 2019 was estimated at 5.8 million metric tons, a 12.1% increase from the 5.2 million metric tons produced in 2018.
• The increase in production was attributed to improved weather conditions, increased irrigation, and the adoption of new rice varieties.

Domestic Consumption:

• Domestic rice consumption in 2019 was estimated at 6.3 million metric tons, a 10.3% increase from the 5.7 million metric tons consumed in 2018.
• The increase in consumption was driven by population growth, urbanization, and changing consumer preferences.

Importation:

• Nigeria imported 1.4 million metric tons of rice in 2019, a 15.4% decrease from the 1.6 million metric tons imported in 2018.
• The decrease in importation was attributed to the government's efforts to promote local rice production and reduce dependence on imported rice.

Self-Sufficiency:

• Nigeria's rice self-sufficiency ratio in 2019 was estimated at 63.5%, up from 56.5% in 2018.
• The increase in self-sufficiency was driven by the growth in local rice production and the decline in importation.

Price:

• The average price of rice in Nigeria in 2019 was N35,000 per 50kg bag, a 10.5% increase from the N31,700 per 50kg bag in 2018.
• The increase in price was attributed to the decline in importation, which led to a shortage of rice in the market.

Employment:

• The rice industry in Nigeria employed an estimated 1.2 million people in 2019, a 12.5% increase from the 1.1 million people employed in 2018.
• The increase in employment was driven by the growth in local rice production and processing.

Investment:

• The rice industry in Nigeria attracted an estimated N100 billion in investments in 2019, a 25% increase from the N80 billion invested in 2018.
• The increase in investment was driven by the government's efforts to promote local rice production and the growth in demand for rice.

Overall, the Nigeria Rice Industry Report 2020 highlights the progress made by the rice industry in Nigeria in 2019, including the growth in production, consumption, and employment, as well as the decline in importation and the increase in investment. However, the report also notes that the industry still faces challenges, including the need for improved infrastructure, technology, and market access.