AfDB President Faults Food Import Tax Suspension

President of the African Development Bank, AfBD, Mr. Akinwumi Adesina, has said the Federal Government’s decision to suspend duties and taxes on imported food commodities was depressing.

Adesina stated this at a retreat organised by the African Primates of the Council of Anglican Provinces of Africa, CAPA, in Abuja weekend.

On July 8, the Minister of Agriculture and Food Security, Mr. Abubakar Kyari, said duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas would be suspended through the country’s land and sea borders for 150 days.

But speaking on the theme ”Food security and financial sustainability in Africa: The role of the Church,” Adesina said the plan would only address short-term food prices hike in the country.

He said: “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, that will further help stabilise the naira.”

AfDB president said Nigeria must not be turned into a food import-dependent country, adding that “Nigeria cannot import its way out of food insecurity.” Adesina said Nigeria must feed itself with pride, insisting that a nation that depends on others to feed itself was independent only in name.