Nigeria Cannot Import Its Way Out of Food Insecurity - Adesina Warns

14 July 2024
Vanguard (Lagos)

President of the African Development Bank (AfBD), Akinwumi Adesina, has advised the Nigerian government to venture into production, warning that the country cannot import its way out of food insecurity.

Disclosing this at a retreat organised by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja on Friday, Adesina said that Nigeria cannot rely on the importation of food to stabilise prices.

His words: "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.

"Nigeria cannot import its way out of food insecurity," he said.

He further stated that: "Nigeria's recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing".

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