Wale Edun, the minister of finance and coordinating minister of the economy has disclosed plans by the federal government to drive food sufficiency and cut down on the country’s reliance on imports.
Edun, who made this known this during a press conference in Abuja on Thursday, marking the country’s 64th Independence Day celebration, said this is as part of a bold strategy to boost domestic agricultural production and enhance food security.
Edun declared that Nigeria’s dependence on imported food must end, describing this shift as a central pillar in the government’s economic recovery plan.
“We should not be importing food,” Edun emphasized, highlighting that the nation’s future lies in achieving self-sufficiency.
“To support this vision, the government is committed to helping small-scale farmers by providing essential inputs such as seeds and fertilizers through programs like the Nigerian Agricultural Growth Scheme.
These efforts aim to improve both wet and dry season harvests, reducing the need for imports in the short term and increasing agricultural productivity in the long run.
As an interim measure, the government has authorized the importation of maize and wheat to stabilize the domestic food market, which is yet to commence two months after the policy announcement.
However, Edun stressed that this should not come at the expense of local food production.
“It is critical that we do not disrupt domestic food production by flooding the market with imports,” he warned.
The minister underscored that reducing food imports is not just an economic necessity but also a key step toward ensuring Nigeria’s future self-reliance. He argued that the new strategy would set Nigeria on a path toward economic independence and long-term food security.
His comments come as Nigeria grapples with rising food prices and an agricultural sector that significantly underperforms compared to global standards. The government’s long-term goal is to more than double agricultural productivity through the adoption of improved seedlings and better farming practices.
This agricultural push is part of a broader economic reform plan, which also seeks to address the challenges posed by the recent removal of fuel subsidies.
Abubakar Bagudu, Nigeria’s Minister of Budget and National Planning, , pointed to the country’s rapidly growing population as a major challenge.
Bagudu noted that Nigeria’s population has doubled from 119 million in 1999 to 230 million today, leading to an increased demand for infrastructure, education, and healthcare services.
“With 230 million of us, it’s no surprise that the demand for government services, infrastructure, and financing for education and health has grown significantly,” Bagudu explained.
Read also: Here are top five risks facing agriculture sector in 2024
He added that while the population has grown fivefold, the economy has not expanded at the same pace, underscoring the need for policies that promote sustainable economic growth.
Meanwhile, George Akume, Secretary to the Government of the Federation, , highlighted the administration’s significant achievements, which he said have positively impacted the lives of everyday citizens.
Akume said, One such achievement is the Presidential Compressed Natural Gas (CNG) initiative, which has eased transportation difficulties.
He revealed that the government has begun distributing CNG conversion kits free of charge to encourage the switch to CNG-powered vehicles.
Akume also praised the administration’s efforts to support small and medium-sized enterprises (SMEs), which he described as the backbone of Nigeria’s economy. The repositioning of the National Social Investment Programme, he said, has helped address the needs of vulnerable groups, including the poor, underserved, and elderly.
Additionally, Nigerian workers have benefited from a newly approved National Minimum Wage, which follows a wage award aimed at alleviating the financial burden on workers. Akume also noted the administration’s success in enhancing the capacity of the armed forces and security agencies, resulting in a significant reduction in insurgency, banditry, and other criminal activities. Many insurgents and bandits have been neutralized, while others have surrendered for deradicalization.
Through a comprehensive plan to strengthen agriculture, improve public services, and boost security, Nigeria’s current administration is laying the foundation for long-term economic stability and growth.
