Nigeria expended at least N155 Billion within the last two years to import salt and other locally available products from Asia and South America while local industries have been suffering from the high cost of production in recent times.
Despite a budgetary allocation of N198 Billion and an available market, there are less than five salt-producing companies in Nigeria. The few salt makers are even confronted with the challenges of high production costs, foreign exchange scarcity and energy crisis.
Salt is one of the most common mineral resources in Nigeria. A large deposit of salt could be found in Ebonyi State. The state even prides itself as the “salt of the nation”. Large deposits of salt can also b found in Cross River, Katsina, Benue, Abia, Akwa Ibom, Anambra and Imo States.
However, the National Bureau of Statistics found that Nigeria imported palm oil majorly from China and Indonesia while crude salt was imported from Brazil. Nigeria’s salt market has been on a decline since 2021.
Experts believed that Nigeria is blessed with many sources of salt which include natural brine in lakes, springs and saline waters. Yet, there has not been a well-articulated government commitment or strategy towards the development of local production of salt in the country.
A multi-million naira salt development in Ebonyi State has been abandoned despite previous funds from the Japanese government.
In 2019, the federal government set up a project called Presidential Initiative on the Development of Salts in Ebonyi State. This project which aimed to bring in consultants and fine-tune how salt can be developed for both export and local consumption has long been abandoned.
Nigeria can nonetheless benefit hugely from local production of salt if the government channels resources and policy to support the private players. It could create thousands of jobs and reduce the excessive pressure on foreign exchange.