President of the African Development Bank Dr. Akinwunmi Adesina, has criticized Nigeria’s recent decision to open its borders to extensive food imports, describing the policy as detrimental to the country’s agricultural strategy.
Speaking at the Council of Anglican Provinces of Africa retreat in Abuja on Saturday, themed ‘Food Security and Financial Sustainability in Africa,’ Adesina expressed grave concerns over the potential consequences of relying on imports to stabilize food prices.
According to him, Nigeria should prioritize domestic food production to ensure price stability, reduce pressure on foreign exchange reserves, and generate employment opportunities.
He stated, “Nigeria’s recent policy to flood its markets with imported food in response to short-term price hikes is disheartening. Import dependency undermines Nigeria’s agricultural policies and long-term food security goals.”
Highlighting Africa’s significant role in global food systems, Adesina emphasized the pivotal importance of agricultural transformation in lifting millions out of poverty across the continent.
He noted that with Africa possessing 65% of the world’s uncultivated arable land, strategic investment in agriculture could not only enhance food security but also bolster economic growth.
Furthermore, Adesina underscored the economic potential of Africa’s agricultural sector, projecting its market size to reach $1 trillion by 2030. He stressed, “Food is not just sustenance; it is a formidable economic asset. Africa’s agricultural policies today will shape the future of global food security.”
The federal government’s recent move to allow duty-free importation of food staples like maize, rice paddy, and wheat for 150 days has sparked criticism, particularly from local farmers’ associations. These groups argue that such policies undermine local production efforts and jeopardize the gains achieved in staple crops like rice and maize.
The decision contrasts sharply with earlier assurances from President Tinubu, who had pledged to prioritize domestic food production over imports.
The escalation in food prices, with inflation surpassing 40%, has exacerbated food insecurity in Nigeria, pushing millions into poverty and threatening the well-being of approximately 32 million people facing severe hunger and malnutrition this year alone.
