“Nigeria cannot rely on the importation of food to stabilize prices. Nigeria should be producing more food to stabilize food prices while creating jobs and reducing foreign exchange spending, which will further help stabilize the Naira,” – Dr. Akinwunmi Adesina, President of the African Development Bank
This is simply unfortunate considering the enormous resources the Buhari administration pumped into Nigerian agriculture. If those funds could not turn things around, we are in real trouble.
Personally, I have expected that with all the efforts of the last government, on agriculture, that we could check agriculture DONE. But here, now we are to import to eat, it seems we might have funded briefcase farmers! Let me wish Nigeria good luck on this Malthusian challenge where the population rate is growing faster than food availability.
Register for Tekedia Mini-MBA edition 17 (June 9 – Sept 6, 2025) today for early bird discounts. Do annual for access to Blucera.com.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register to become a better CEO or Director with Tekedia CEO & Director Program.
Dr. Akinwunmi Adesina, President of the African Development Bank (AfDB), has expressed deep concerns about Nigeria’s move to import duty-free food, labeling it as “depressing” and warning against its potential long-term consequences.
Nigeria is grappling with a severe food crisis compounded by inflation rates soaring to 41%. This dire situation has sparked intense debate over the federal government’s policy to import food to stabilize prices.
Speaking at the Council of Anglican Provinces of Africa retreat in Abuja, Dr. Adesina noted that relying on food imports is not a sustainable solution for Nigeria’s food security issues.
---
Register for Tekedia Mini-MBA (June 9 – Sept 6, 2025), and join Prof Ndubuisi Ekekwe and our global faculty; click here.