Suspension of Food import tax devastating – AfDB President.
By Mtindiga Daniel
The President, African Development Bank (AfDB), Mr. Akinwumi Adesina has disclosed that, the sudden decision of the Federal Government to suspend duties and taxes on imported commodities for 150 days is totally devastating.
Mr. Adesina disclosed this at a Retreat Summit powered by the African Primates of the Council of Anglican Provinces of Africa, (CAPA) in Abuja.
“Nigeria’s recent move to open its borders for influx of more food just to address temporal food price hikes, is devastating.” He said.
Adesina who spoke at the event on the theme ‘Food Security and financial sustainability in Africa:the role of the Church, ‘ said, the planned suspension would only ameliorate temporal food prices hike in the country.
According to him “Nigeria cannot depend on the importation of food to stabilize prices of commodities. Nigeria should rather be producing massive food to stabilize prices of commodities so that, it will go a long way in creating more jobs thereby reducing Foreign Exchange Spending that will further stabilize the naira.”
He maintained that, Nigeria must avoid turning into a food import dependent Nation stressing that, the country cannot import its way out of food insecurity.
“Nigeria must feed herself with pride. A country that rely solely on others for sustainability is truly Independent only in name,” he posted.
Recall that on July 8,the Honorable Minister of Agriculture and Food Security, Mallam Abubakar Kyari announced that, duties, tariffs and taxes on the importation of Wheat, Cowpeas, Maize and Husked brown rice would be temporarily suspended through Nigeria’s land and sea borders for a period of 150 days.
