Adesina Criticizes Suspension of Duties on Imported Food ProductsAdesina Criticizes Suspension of Duties on Imported Food Products The President of the African Development Bank (AfDB), Akinwumi Adesina, has condemned the Nigerian government’s decision to lift duties and taxes on food imports. Adesina expressed his concern in a statement released on Saturday after attending a meeting organized by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja. Adesina argued that the measure, announced by the Minister of Agriculture and Food Security, Abubakar Kyari, on July 8, only addresses the short-term issue of rising food prices. He emphasized that the policy could undermine the long-term efforts and private investments in Nigeria’s agricultural sector. “Nigeria’s recently announced policy of opening its borders to large-scale food imports just to address short-term food price hikes is depressing,” Adesina said. He stressed that Nigeria should prioritize domestic food production to stabilize prices, create jobs, and reduce foreign exchange expenditure. Adesina believes that Nigeria cannot rely on food imports as a sustainable solution to food insecurity. “Nigeria cannot eliminate food insecurity by importing,” he stated. “A country that depends on others to feed itself is independent in name only.” Adesina called on Nigeria to harness its potential to feed itself and achieve self-sufficiency in food production. By investing in agriculture, he said, Nigeria could create a vibrant and sustainable economy.
Akinwumi Adesina, President of the African Development Bank (AfBD), has described the Federal Government’s decision to suspend duties and taxes on imported food products as depressing.
In a statement on Saturday, the AfDB said Adesina spoke on Friday at a meeting organised by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja.
On July 8, Abubakar Kyari, Minister of Agriculture and Food Security, said import duties, tariffs and taxes on maize, husked brown rice, wheat and black-eyed peas will be reduced. suspended 150 days through the land and sea borders of Nigeria.
Kyari said the plan would ease the rise in food prices, adding that the government has put in place measures to be implemented in 180 days.
Speaking on the theme ‘Food Security and Financial Sustainability in Africa: The Role of the Church’, Adesina said the plan only addresses the short-term rise in food prices in the country.
He said the policy could jeopardize the significant efforts and private investments in Nigeria’s agricultural sector.
“Nigeria’s recently announced policy of opening its borders to large-scale food imports just to address short-term food price hikes is depressing,” he said.
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“Nigeria cannot rely on food imports to stabilize prices. Nigeria should produce more food to stabilize food prices, while creating jobs and reducing foreign exchange expenditure, which will further help stabilize the naira.”
The AfDB chairman said Nigeria should not become dependent on food imports.
“Nigeria cannot eliminate food insecurity by importing,” he said.
Adesina said Nigeria should feed itself with pride, adding that a country that depends on others to feed itself is independent in name only.
