Nigeria finds itself in a policy quagmire as it grapples with soaring food prices. The government, under President Bola Tinubu, recently announced a plan to suspend tariffs and taxes on imports of key staples like maize, rice, and wheat for 150 days. This move, aimed at curbing inflation that has breached 40%, has drawn sharp criticism from Akinwumi Adesina, the influential president of the African Development Bank and a former Nigerian agriculture minister.
Adesina, in a speech delivered in Abuja, decried the import policy as “depressing” and a potential blow to domestic agriculture. “Nigeria cannot rely on importing food to stabilize prices,” he argued. “Nigeria should be producing more food to stabilize food prices, while creating jobs and reducing foreign exchange spending.”
The government’s decision stems from intense pressure to address food insecurity. Runaway inflation has squeezed household budgets, making staples like rice and maize increasingly out of reach for many Nigerians. Minister of Agriculture Abubakar Kyari confirmed the importation of 500,000 metric tons of wheat and maize, emphasizing these would be semi-processed and supplied to domestic millers. Retail prices for these imported goods will also be regulated.
However, Adesina countered with a strong message of self-reliance. “Nigeria must feed itself with pride,” he asserted. “A nation that depends on others to feed itself is independent only in name.” He cautioned against long-term dependence on imports, urging Nigeria to chart a course towards “food security and not become a food import-dependent nation.”
This policy clash highlights the complex challenge of balancing immediate needs with long-term development goals. The government, under pressure to deliver quick solutions, sees imports as a necessary stopgap measure. Adesina, however, emphasizes the importance of investing in domestic agriculture to ensure sustainable food security and economic growth.
The coming months will be crucial as Nigeria navigates this policy divide. While imports may provide temporary relief, the focus will likely shift to the success of the government’s plans to ramp up domestic food production in the upcoming farming season. These plans include supporting smallholder farmers, promoting dry season farming practices, mechanization, irrigation, and increased land cultivation.
Only time will tell if Nigeria can strike the right balance between tackling immediate food shortages and building a self-sufficient agricultural sector. The spotlight will be on Minister Kyari’s pledge to ensure “food security for everyone in the immediate term” while laying the groundwork for long-term solutions.