News in Brief:
– Dr. Akinwumi Adesina warns that Nigeria’s new policy on food imports could harm local agriculture and investments.
– Emphasizes the need for Nigeria to boost local food production for long-term food security and economic stability.
Recently, Nigeria’s government announced a temporary policy to allow massive food imports, aiming to address short-term food price hikes. This decision, as highlighted by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB) Group, could have significant adverse effects on Nigeria’s agriculture sector.
Understanding the policy
The policy involves suspending duties, tariffs, and taxes on the importation of essential food items like maize, husked brown rice, wheat, and cowpeas for 150 days. This means that for a limited period, these food items can be imported into Nigeria without the usual costs added by the government. The aim is to reduce the prices of these foods temporarily.
Dr. Adesina argues that this approach undermines the progress made in Nigeria’s agriculture sector. Instead of boosting local production, reliance on imports can:
- Depress Local Farming: Farmers may struggle to compete with cheaper imported goods.
- Discourage Investments: Investors may hesitate to invest in local agriculture if the market becomes unpredictable.
- Worsen Food Security: Dependency on imports makes the country vulnerable to international market fluctuations.
Why local production matters
Dr. Adesina emphasises that Nigeria should focus on increasing its food production to stabilise prices. This strategy supports job creation, reduces foreign exchange spending, and helps stabilise the Naira.
The development institution has been working on transforming agriculture in Africa through initiatives like the Technologies for African Agricultural Transformation (TAAT) program. This program provides advanced agricultural technologies to farmers, helping countries like Ethiopia and Sudan increase their wheat production.
Adesina highlights that agriculture is crucial for Nigeria and Africa’s economic diversification and rural development. In his statement, he revealed that agriculture is key to eliminating poverty, as over 70% of Africa’s population lives in rural areas. He added that Africa holds 65% of the world’s uncultivated arable land, essential for feeding the global population by 2050. Hence, the continent’s approach to agriculture significantly impacts global food security.
Proposed solutions
The AfDB’s president also suggested the following multifaceted approaches to address the challenges in agriculture:
- Robust Government Policies: Implement policies that ensure food security and support local farmers.
- Commercial Farming Investments: Encourage investments in large-scale farms, especially in rural areas.
- Youth Engagement: Motivate young Africans to pursue careers in agriculture.
- Climate Change Advocacy: Address the impacts of climate change on farming.
- Financial Accountability: Ensure transparent and effective management of resources.
These statements were made during a retreat in Abuja, attended by Anglican leaders from across Africa, which also underscores the importance of collaboration between religious institutions and organisations like the African Development Bank. Faith leaders can play a pivotal role in advocating for sustainable agricultural policies, supporting food banks, and encouraging youth participation in agriculture.
I never bought into this plan to import food for free. It will only further enrich the already ultra-rich, while bringing more rural people into poverty as their produce now face competition from foreign ones that may have the advantage of scale.