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Experts have raised the alarm that the Federal Government's decision to open the nation’s borders for food importation may negatively impact private investments in the agriculture sector.
The President of the African Development Bank Group, Akinwunmi Adesina, expressed disappointment in Nigeria's decision to open its borders for massive food imports to address short-term food price hikes.
He warned that the decision could undermine previous hard work and private investments in the agriculture sector.
Adesina emphasized the importance of Nigeria producing more food to stabilise prices instead of relying on imports.
The Minister of Agriculture and Food Security, Abubakar Kyari, had announced a 150-day duty-free import window for commodities like maize, husked brown rice, wheat, and cowpeas as part of the Presidential Accelerated Stabilisation and Advancement Plan.
He said the imported commodities would be subject to price control.
Kyari acknowledged Nigeria's critical food security challenge and assured Nigerians that the government is committed to ensuring food security for all citizens in the immediate term while also working on long-term interventions for sustainable and resilient food systems in the country.
