Home News AfDB’s Adesina Critisises Tinubu’s Duty-Free Food Imports Policy
NewsPolitics

AfDB’s Adesina Critisises Tinubu’s Duty-Free Food Imports Policy

375
AfDB's Adesina Critisizes Tinubu's Duty-Free Food Imports Policy

The President of the African Development Bank (AfDB), Dr Akinwunmi Adesina, has raised critical concerns over President Bola Tinubu‘s duty-free food imports directive, stating that the policy is “depressing.”

Adesina disclosed this during a retreat held at the Council of Anglican Provinces of Africa in Abuja on Saturday, where he spoke about ‘Food Security and Financial Sustainability in Africa.’

According to him, Nigeria cannot rely on food imports to stabilise prices, which could destroy the country’s agricultural policy.

This was in response to last week’s announcement by the Ministry of Agriculture about its plans to allow duty-free importation of food items such as maise, rice, and wheat for 150 days as part of measures towards stabilising the prices of the items in the market.

With the announcement, Adesina recommended that the country should be producing food as it helps stabilise prices and reduce pressure on foreign exchange while creating jobs for the unemployed.

Furthermore, Dr Adesina noted that Africa constitutes nearly a third of the over 780 million hungry people worldwide, emphasising agriculture’s critical role in diversifying economies and transforming rural areas, where more than 70 per cent of Africa’s population resides. 

It is clear that Africa cannot eliminate poverty unless we transform agriculture, he stated. 

In addition, he noted that Africa holds 65 per cent of the world’s remaining uncultivated arable land, which is crucial for feeding an estimated 9.5 billion people by 2050. Therefore, what Africa does with agriculture will determine the future of food in the world. Essentially, food is money. The size of Africa’s food and agriculture market will reach $1 trillion by 2030,” he stated.

Read more: EXCLUSIVE: Oyo State Ex-Deputy Governor, Hazeem Gbolarumi Threatens To Kill Car Dealer For Demanding Payment

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

President Bola Tinubu is set to leave Abuja on Monday for a brief working visit to France, according to a statement issued by Ajuri Ngelale, the presidential spokesperson.
NewsPolitics

President Tinubu and VP Shettima Leave Official Duties, Depart for France and Senegal

President Bola Tinubu and Vice President Kashim Shettima have departed Nigeria on...

News

DR Congo: M23 Rebels Withdraw from Walikale Ahead of Peace Talks  

M23 rebels have withdrawn from Walikale, an important town in the eastern...

National Grid collapses
News

Despite Grid Collapses in the Last 2 Years, Minister of Power, Adelabu Claims 2,000MW Increase in Generation

Despite recurring national grid collapses in the past two years, the Minister...

News

Russia Backs Joint CSS Military Force, Foreign Minister Hails “Africa’s Second Awakening”

Russia has pledged to assist in forming a joint CSS military force,...