The President of African Development Bank (AfBD), Akinwumi Adesina, has criticised the Federal Government’s decision to suspend duties and taxes on imported food commodities.
Recall that the Minister of Agriculture and Food Security, Abubakar Kyari had last week declared 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.
Reacting to the development, Adesina argued that the plan would only address short-term food prices hike in the country.
He shared his reservation at a recent retreat organised by the African Primates of the Council of Anglican Provinces of Africa, CAPA, in Abuja weekend.
Speaking on the theme ”Food security and financial sustainability in Africa: The role of the Church”, Adesina said the plan was depressing.
He said, “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 stabilise prices. Nigeria should be producing more food to stabilise food prices, while creating jobs and reducing foreign exchange spending, that will further help stabilise the naira.”
The AfDB president said Nigeria must not be turned into a food import-dependent country, adding that “Nigeria cannot import its way out of food insecurity.”
He insisted that Nigeria must feed itself with pride, insisting that a nation that depends on others to feed itself was independent only in name.
“It is clear therefore that unless we transform agriculture, Africa cannot eliminate poverty.
“Essentially, food is money. The size of the food and agriculture market in Africa will reach $1tn by 2030,” Adesina added.
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