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Adesina cautions that Nigeria’s food importation policy could devastate the country’s agriculture sector. Learn about his urgent warning.
The Nigerian government recently announced the suspension of duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas through the country’s land and sea borders for 150 days.
This decision has been met with criticism from the President of the African Development Bank Group, Dr. Akinwumi Adesina, who expressed concern that this policy could have a detrimental impact on the country’s agriculture.
Adesina emphasized the importance of Nigeria focusing on producing more food domestically to stabilize prices, create jobs, and reduce foreign exchange spending, rather than relying on food imports. He warned that Nigeria should not become dependent on food imports and stressed the significance of the country being self-sufficient in food production.
The President of the African Development Bank emphasized the crucial role of agriculture in diversifying economies and transforming rural areas, where a significant portion of Africa’s population resides. He highlighted that Africa holds a substantial amount of uncultivated arable land, which could be utilized to feed a growing global population by 2050.
Adesina underscored the importance of transforming agriculture to eradicate poverty in Africa, stating that the continent’s future food security hinges on its agricultural practices. He projected that the food and agriculture market in Africa could reach $1 trillion by 2030, emphasizing the economic significance of the sector.
The President outlined the Bank’s ambitious $25 billion program aimed at revolutionizing agriculture by providing advanced technologies to millions of farmers and achieving food self-sufficiency in Africa by 2030. He also highlighted successful initiatives, such as the Technologies for African Agricultural Transformation (TAAT) program, which has helped countries like Ethiopia and Sudan increase wheat production and mitigate the impact of climate change.
