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SHOCKING: Nigeria spends Over N11.7b annually On Importation Of Tomatoes

July 3, 2013

The Central Bank of Nigeria (CBN) has expressed dismay over the N11.7 billion spent annually by the Nigerian government on the importation of processed tomato paste, stressing that such a colossal sum of money could better be used to grow the commodity locally.

The Apex bank said that this ugly trend was largely due to the dysfunctional agricultural value chain system in Nigeria resulting in about 50 per cent of the tomato produced in the country being lost to lack of preservation, poor marketing distribution and access to markets. 

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