Akinwumi Adesina, President of the African Development Bank (AfDB), criticizes the federal government’s decision to lift the suspension on food imports.
Speaking at a retreat organized by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja over the weekend, AfDB President Akinwumi Adesina stated that Nigeria cannot rely on food imports to stabilize prices.
His comments followed the July 8 announcement by the Minister of Agriculture and Food Security, Abubakar Kyari, that duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas would be suspended for 150 days through the country’s land and sea borders.
Adesina noted that this policy would only affect short-term food prices.
“The recent policy to open Nigeria’s borders for large-scale food imports to manage short-term price hikes is troubling.
Nigeria cannot depend on food imports to stabilize prices. Instead, the nation should boost domestic food production to stabilize prices, create jobs, and reduce foreign exchange spending, which will also help strengthen the naira.
Nigeria cannot solve its food insecurity through imports,” he remarked.
