The Federal Government says about N1.3 trillion has been spent on the importation of rice, fish, sugar and wheat in the last 12 months.

This information was released last night by the Central Bank of Nigeria.

The bank’s Deputy Governor, Corporate Services, Edward Lametek, gave the information at a seminar organised for Finance reporters in Owerri, Imo State.

Speaking on the theme: “Galvanising development finance and monetary policy for growth”, the bank chief restated the bank’s commitment to local production of the commodities, saying that they put a lot of pressure on the country’s import bill.

He emphasized on economic diversification as a sustainable way to grow the economy.

Lametek noted the Anchor Borrowers’ Programme, which was launched in November 2015, was designed to build partnerships between small holder farmers and reliable large-scale agro-processors, with a view to increasing agricultural output, while improving access to credit for farmers.

No fewer than three persons have been injured in a gas explosion that occurred at Four Point by Sheraton Hotel, on Victoria Island, Lagos.

The explosion also affected part of the hotel building and damaged several cars.

The management of the Hotel confirmed in a statement that two of those injured were employees of the contractor working on the site of the Gas.

The statement also commended the prompt arrival of emergency officials while it called for proper investigation into the circumstances that led to the explosion.

The Lagos State Emergency Management Agency in a statement said preliminary investigations revealed that the gas cylinder used by welders working in the hotel premises exploded due to a leakage of one of the gas cylinder hose.