The President of the African Development Bank (AfBD), Akinwumi Adesina, has expressed displeasure over the federal government’s recently announced policy lifting the suspension of food imports.
Adesina, while speaking at a retreat organised by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja during the weekend, said the country cannot rely on food importation to stabilise prices.
The comment comes after the Minister of Agriculture and Food Security, Abubakar Kyari, revealed on July 8 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.
Addressing the issue at the aforementioned retreat, Adesina stated that it would only affect short-term food prices.
“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.
“Nigeria cannot import its way out of food insecurity”, he shared.
