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Search * * The Nation * Business * Policy Radar * CableCheck * Lifestyle * Viewpoint * Sport * Climate * Home * About Us * Contact Us * Terms of Use * Privacy Policy * Comment Policy --Advertisement-- * * The Nation * Business * Policy Radar * CableCheck * Lifestyle * Viewpoint * Sport * Climate Follow Follow Search Advertisement * Business * Top Stories AKINWUMI ADESINA: FOOD IMPORT TAX SUSPENSION IS DEPRESSING — AGRIC INVESTMENTS AT RISK byMaryam Abdullahi July 14, 2024 4:45 pm Share Tweet Email Share Share Akinwumi Adesina, president of the African Development Bank (AfBD), says the federal government’s decision to suspend duties and taxes on imported food commodities is depressing. In a statement on Saturday, AfDB said Adesina spoke at a retreat organised by the African Primates of the Council of Anglican Provinces of Africa (CAPA) in Abuja on Friday. On July 8, Abubakar Kyari, minister of agriculture and food security, said duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas will be suspended through Nigeria’s land and sea borders for 150 days. Kyari said the plan would ease the price hike of food items, adding that the government has adopted measures to be implemented in 180 days. Advertisement 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 the policy might jeopardise the significant efforts and private investments made in Nigeria’s agriculture sector. “Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing,” he said. Advertisement “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. “Nigeria cannot import its way out of food insecurity,” he said. Adesina said Nigeria must feed itself with pride, adding that a nation that depends on others to feed itself, is independent only in name. Advertisement * AfBD * african development bank * Agricultural sector * akinwumi adesina Add a comment LEAVE A REPLY CANCEL REPLY Your email address will not be published. Required fields are marked * Comment * Your Name * Your E-mail * Website Save my name, email, and website in this browser for the next time I comment. Submit Comment Δ Join TheCable WhatsApp Channel Share Tweet Email Share Share Recommended for you Recommended by 10 Interesting Facts About Earth's Oceans READ MORE * Top Stories DISCLOSE DETAILS OF FG’S AGREEMENT WITH TWITTER, COURT ORDERS INFORMATION MINISTRY byBolanle Olabimtan July 14, 2024 6:32 pm * Exclusives & Features * Top Stories REVEALED: TINUBU’S NOMINEE NOT STATUTORILY QUALIFIED TO BE PENCOM DG byOlalekan Fakoyejo July 14, 2024 6:44 pm * Petrobarometer * Top Stories NNPC STAKE IN OUR REFINERY HAS REDUCED TO 7.2%, SAYS ALIKO DANGOTE byBunmi Aduloju July 14, 2024 6:50 pm * Top Stories ‘THEY’RE NOT AUTHORISED’ — NBA DISCLAIMS LAWYERS CLAIMING POLICE CAN’T ISSUE CMRIS CERTIFICATE byBolanle Olabimtan July 14, 2024 10:13 pm * Petrobarometer * Top Stories NNPC REVEALS WHY STAKE IN DANGOTE REFINERY WAS REDUCED TO 7.2% byBunmi Aduloju July 14, 2024 10:38 pm * Top Stories SPOTTED: TINUBU’S 2027 CAMPAIGN BILLBOARD MOUNTED IN ABUJA byAyodele Oluwafemi July 14, 2024 11:03 pm Advertisement Advertisement Advertisement LATEST NEWS * Student loan scheme is part of anti-corruption efforts, says Tinubu * Stampedes: Hunger turning to epidemic — FG must sit up, says LP * Sanwo-Olu: #EndSARS protest was one of my toughest moments as a leader * ‘I’ve been giving palliatives for 25 years without incident’ — Tinubu speaks on food stampedes * NERC: Customers in Togo, Benin, Niger owe $5.7m for electricity in Q3 2024 Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement Advertisement * News * Wearable Technology * Gadgets * Camera Gear * Fitness Trackers * Gaming and VR Devices * Travel and Outdoor Gadgets * Space * Innovations © 2024 TheCable. All Rights Reserved. * Home * About Us * Contact Us * Terms of Use * Privacy Policy * Comment Policy error: Content is protected from copying. Advertisement