Akinwumi Adesina, President of the African Development Bank (AfDB), voiced his concerns regarding Nigeria’s recent decision to lift the suspension on food imports, calling it inadequate for stabilizing prices. He expressed these views during a retreat organized by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja over the weekend.
Adesina emphasized that relying on food imports does not offer a sustainable solution for price stability in Nigeria. He reacted to the government’s announcement on July 8 by Minister of Agriculture and Food Security, Abubakar Kyari, which suspended duties, tariffs, and taxes on imports of maize, husked brown rice, wheat, and cowpeas for 150 days across land and sea borders.
In his remarks at the retreat, Adesina highlighted the short-term impact of the policy on food prices, stating, “Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing.”
He further stressed, “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.”
Adesina concluded by asserting, “Nigeria cannot import its way out of food insecurity.” His remarks underscored the importance of enhancing domestic food production to achieve sustainable food security, economic stability, and job creation in Nigeria.
