By David Lawani, Abuja
The Independent Media and Policy Initiative (IMPI) has applauded the federal government over the announced suspension of import duties and taxes on essential food items.
The Chairman, Chief Niyi Akinsiju, who stated this on Tuesday in Abuja while addressing newsmen, expressed optimism that the move would crash the high cost of food items in a few weeks.
He, therefore, appealed to the organisers of the nationwide hunger protests to suspend the plan and embrace peace.
He expressed gratitude that President Bola Tinubu-led government policies had begun to show initial capacity to address the challenges.
According to him, it is on record that the federal government had distributed 60,452metric tons of improved seeds, 887,255metric tons of seedlings, 138 value kits, 501,726 liters of agrochemicals, 62,328.5metric tons of inorganic fertilizers, 1,000kg fungicide, and 33,200 equipment to farmers across different value chains to enhance agricultural production.
Akinsiju said, “This flurry of President Tinubu’s interventions in agriculture, has at the last count, successfully generated a total of N309bn into the economy in one year, suggesting a resurrection of exporting activities in the agriculture sector. On aggregate, the recent waiver of import duties and tax on food importation will make food abundantly available and affordable locally.”
“Grounded on this projection is the $20bn foreign investment commitments the federal government had secured to revolutionize the agricultural sector, in the bid to ensure food security in the country and to reinvent Nigeria’s pride of place as the agricultural giant of Africa.
“Besides, the creation of the Ministry of Livestock Development may have opened a new vista in concerted efforts to advance agriculture. This initiative reveals the true intention of the President to harness Nigeria’s huge livestock potential and to find a lasting solution to the incessant farmers and herders clash in the country as well as reinforce the value chain that will create more employment opportunities.
“We are well aware of Nigeria’s rising year-on-year inflation figure standing at 34.19 per cent in June 2024. This figure is primarily driven by surging food prices, which culminated in higher food inflation at 40.8 per cent in the month.
He said that the increase in inflation rate might have been aggravated by the depreciation of the Nigerian currency on the back of the harmonisation of the foreign exchange windows and the removal of fuel subsidy by the federal government, adding that the twin policies now define the structural reformation of the economy.
“We are, however, compelled to register our displeasure over the slowness of the sub-nationals to complement the efforts of the federal government in boosting agriculture. We applaud state governors who are investing in agriculture.
“We urge others to join the efforts to grow the food we eat. State Governors and Local Government Administrators should utilize the financial opportunity presented by the tremendous increase in their various allocations from FAAC to support the exemplary efforts of the federal government towards massive food production.
“Those who want to protest have the right to protest, but this must be done in the appropriate context. A protest should be anchored on substantive rationale or reasons that are achievable.
“Based on this, we appeal for patience so as not to disrupt the gathering momentum being built in the nation’s economic sphere that may be counterproductive.”
