The President of the African Development Bank (AfBD), Mr. Akinwumi Adesina, has expressed disappointment over the Federal Government’s recent decision to suspend duties and taxes on imported food commodities.
Adesina made his remarks at a retreat organized by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja over the weekend.
On July 8, the Minister of Agriculture and Food Security, Mr. Abubakar Kyari, announced that duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas would be suspended through the country’s land and sea borders for 150 days. This policy aims to address the immediate hike in food prices within the country.
However, Adesina, speaking on the theme “Food Security and Financial Sustainability in Africa: The Role of the Church,” criticized the policy as a short-sighted solution.
He stated, “Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing. Nigeria cannot rely on the importation of food to stabilize prices. Nigeria should be producing more food to stabilize food prices, while creating jobs and reducing foreign exchange spending, that will further help stabilize the naira.”
Adesina emphasized that relying on food imports would not address the root causes of food insecurity in Nigeria.
“Nigeria must not be turned into a food import-dependent country,” he warned.
“Nigeria cannot import its way out of food insecurity. The country must feed itself with pride. A nation that depends on others to feed itself is independent only in name.”
