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The President of the African Development Bank Group Dr. Akinwumi Adesina, has said the decision by Nigeria’s government to allow massive food importation risks destroying the country’s agriculture.This follows the announcement by Nigeria’s Minister for Agriculture Abubakar Kyari on July 10, that the Federal Government would suspend 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.
He warned that the policy could undermine all the hard work and private investments, that have gone into Nigeria’s agriculture sector.“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,” said the African Development Bank president.
Noting that Africa accounts for nearly a third of the more than 780 million people worldwide who are hungry, the African Development Bank president said agriculture is critical for the diversification of economies, and for the transformation of rural areas, where over 70 per cent of the population of Africa live.“It is clear therefore that unless we transform agriculture, Africa cannot eliminate poverty,” he insisted.
Adesina briefed the primates on the Bank’s $25 billion program to transform agriculture, by providing high-performing agricultural technologies for 40 million farmers and making Africa food self-sufficient by 2030.He shared the Bank’s successes in helping member countries tackle the negative effects of climate change, through financial investments and its flagship Technologies for African Agricultural Transformation program.
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