The Federal Government has resorted to importing staple foods such as maize and wheat to combat the escalating food shortages gripping the country.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this urgent measure at an Inter-Ministerial Press Briefing in Abuja, part of activities marking Nigeria’s 64th Independence anniversary.
Edun revealed that the procured food items are expected to arrive in Nigeria soon, saying the imports is a short-term fix to the severe food scarcity.
“In the meantime, there is a short-term measure to import food. The government has already ordered procured maize and wheat, which is on its way,” Edun stated.
However, he quickly emphasised that the importation is only a temporary intervention, aimed at stabilising the situation without undermining local food production.
“It is critical that we do not disrupt domestic production of food. We do not want to flood the market with imports that discourage farmers from engaging in production and millers from food processing,” Edun added.
The government’s latest action comes against the backdrop of one of Nigeria’s worst economic crises in recent memory.
With inflation skyrocketing, many Nigerians have been plunged deeper into poverty, struggling to cope with rising food and energy prices, exacerbated by the removal of petrol subsidies and the unification of foreign exchange rates in May 2023.
In August 2024, the nation’s inflation rate surged to 32.15%, while food inflation hit a staggering 37.52%, according to the National Bureau of Statistics (NBS).
Prices of essential food items like bread, cereals, yam, potatoes, cassava, and cooking oil have shot up, further squeezing households already grappling with economic hardship.
Edun’s announcement of food imports follows widespread protests by youths in August, who took to the streets to express their frustration with hunger and unrelenting economic pressure.
For 10 consecutive days, these protests underscored the growing discontent with the federal government’s handling of the economic crisis, and calls for immediate relief measures have only intensified.
While the importation of staple foods provides temporary relief, experts warn that without a coherent long-term strategy to address the root causes of food shortages, Nigeria’s food security may remain at risk.
Edun acknowledged that balancing food imports without stifling local agricultural efforts remains a challenge. “Conversations are ongoing to determine the appropriate quantity we can import without disrupting the agricultural sector,” he said.
In the long term, Edun stressed the need for sustainable strategies to boost domestic agricultural productivity.
“We must identify and put in place strategies to increase agricultural productivity.
“This is a critical part of ensuring food security and stabilising prices,” he noted.
The Bola Tinubu administration has rolled out various palliative measures to ease the pain of soaring inflation, including cash transfers and subsidies for transport.
However, these measures have done little to stem the rising tide of hunger as food prices remain out of reach for many Nigerians.
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