On Monday, the Federal Government announced a 150-day duty-free import window for certain food commodities in a bid to combat soaring inflation that has severely impacted Nigerians. This decision comes alongside plans to collaborate with states to expand agricultural land cultivation nationwide.
The move suspends duties, tariffs, and taxes on the importation of food items via land and sea borders, aimed at curbing forex demand by food importers. In 2023 alone, Nigeria spent $2.13 billion on importing food, despite being touted as Africa’s agricultural hub.
The Central Bank of Nigeria’s quarterly statistics highlighted the paradox of exporting significant quantities of food while grappling with a high food import bill. This situation underscores the government’s struggle to boost local production amidst challenges like inadequate infrastructure, insecurity, and climate change.
The announcement, however, contrasts with previous policies aimed at reducing food costs and economic hardship by discouraging food imports. Speaking in Abuja, Minister of Agriculture and Food Security, Abubakar Kyari, outlined the initiative as part of the Presidential Accelerated Stabilisation and Advancement Plan.
Kyari emphasized the immediate need to address food inflation, which has soared to 40.66% according to the National Bureau of Statistics. He acknowledged the escalating costs that have made staple foods unaffordable for many Nigerians, attributing this crisis to various factors including infrastructural challenges, multiple taxes, and market profiteering.
Under the plan, the government will import 250,000 metric tonnes each of wheat and maize, with a focus on supplying semi-processed commodities to small-scale processors and millers nationwide. Kyari assured the public of stringent quality standards for imported food, addressing concerns about genetic composition and safety.
Despite these measures aimed at short-term relief, critics argue they undermine efforts to achieve food security self-sufficiency by 2030, as outlined in the UN Sustainable Development Goals. They call for sustained investment in local agricultural production and infrastructure to ensure long-term stability.
Reacting positively, stakeholders like Dele Oye from the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, lauded the government’s decision to suspend import duties. He viewed it as a crucial step towards stabilizing food prices and alleviating economic pressures on households.
However, concerns remain about the potential long-term impact on local agricultural investment and employment. Critics fear that continued reliance on food imports could hinder the growth of Nigeria’s agricultural sector and compromise national health due to imported genetically modified and synthetic foods.
As the government aims to balance immediate relief with sustainable agricultural development, the focus is on enhancing local production capabilities, supporting farmers, and improving infrastructure to ensure food security and economic stability in the long term.
