President of the African Development Bank (AfDB), Dr Akinwumi Adesina, at the weekend, faulted the Federal Government’s plan
President of the African Development Bank , Dr Akinwumi Adesina, at the weekend, faulted the Federal Government’s plan to allow the massive import of staple food to crash prices, describing the decision to suspend duties and taxes on imported food commodities as ‘depressing’.
“Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing. 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, which will further help stabilise the naira,” he said.
“It is clear therefore that unless we transform agriculture, Africa cannot eliminate poverty. Africa has 65 per cent of the uncultivated arable land left in the world, to feed 9.5 billion people by 2050. Therefore, what Africa does with agriculture will determine the future of food in the world,” he insisted.
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