“Nigeria must feed itself with pride” – Akinwumi Adesina criticizes suspension of duties on imported food
In response to the federal government’s recent decision to suspend duties and taxes on imported food commodities, Akinwumi Adesina, president of the African Development Bank (AfDB), has expressed his dismay, describing the move as “depressing.”
The decision to suspend duties and taxes on imported food, announced by Abubakar Kyari, Minister of Agriculture and Food Security, is part of the Federal government’s broader strategy to combat rising food prices in Nigeria.
Duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas would be suspended for 150 days through Nigeria’s land and sea borders.
This suspension is one of the measures included in the accelerated stabilization and advancement plan presented to President Bola Tinubu by the economic management team (EMT) under the Presidential Economic Coordination Council (PECC), constituted in March.
Kyari explained that the suspension is to mitigate food inflation, which has been exacerbated by multiple taxes, infrastructural challenges, and profiteering by marketers and traders. The National Bureau of Statistics recently reported food inflation at 40.66%, highlighting the urgent need for intervention.
“Over the past several months, we have all been witnesses to the escalating cost of food items in all parts of the country. There is virtually no food item that has not had its price raised to a level higher than what many Nigerians can afford,” Kyari said. He noted that even basic staples like yam, plantain, and potatoes have become prohibitively expensive for many.
In addition to suspending duties and taxes, the government will enforce a recommended retail price (RRP) for imported food commodities and will import 250,000 metric tonnes of wheat and maize. These imports, targeting small-scale processors and millers, are part of a strategy to stabilize food prices.
Akinwumi Adesina: “This is only a temporary fix”
However, Akinwumi Adesina criticized the policy, arguing that it would only provide a temporary fix and undermine significant efforts and private investments in Nigeria’s agriculture sector.
Speaking at a retreat organized by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja, Adesina emphasized that Nigeria cannot rely on food imports to stabilize prices.
“Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing,” Adesina stated. “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 stressed the importance of self-sufficiency in food production, asserting that Nigeria must not become dependent on food imports. “Nigeria cannot import its way out of food insecurity,” he said. “Nigeria must feed itself with pride. A nation that depends on others to feed itself is independent only in name.”
As the government continues to implement its accelerated stabilization and advancement plan, Adesina’s remarks highlight the ongoing debate over Nigeria’s food security strategy and the balance between immediate relief measures and long-term sustainability in the agriculture sector.
