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President Bola Ahmed Tinubu’s administration is facing increasing pressure to reconsider the food import waiver introduced in July 2024, as concerns rise about its negative impact on local industries and jobs. Eyes Of Lagos reports,

Sources within the Presidency have revealed that the private sector is strongly opposed to the waiver, warning that allowing unlimited food imports could hurt domestic production, discourage investments, and lead to higher unemployment. While the waiver was meant to reduce food inflation, critics believe it carries major economic risks.

A source speaking anonymously said, “While many media outlets have criticized the government for not fully implementing the food import waiver, the government is being cautious to protect local industries. Organizations such as the Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI) have strongly opposed the waiver, stressing the importance of focusing on increasing local production instead.”

An insider revealed that members of the Organized Private Sector have warned that food importation could devastate local businesses and lead to job losses.

Segun Kuti-George, National Vice President of the Nigerian Association of Small-Scale Industrialists, called the policy a “double-edged sword.” He said, “Every policy has pros and cons. The key is to carefully assess whether the benefits outweigh the risks before implementing it.”

The food import waiver, announced by Agriculture Minister Abubakar Kyari on July 10, 2024, suspended duties, tariffs, and taxes on imports of maize, husked brown rice, wheat, and cowpeas for 150 days. The policy was intended to combat food inflation caused by high prices and limited availability. As part of the plan, the government also aimed to import 250,000 metric tonnes of wheat and maize for distribution to small-scale processors and millers.

However, implementation has been delayed, leaving many Nigerians struggling with rising food prices. The Nigeria Customs Service estimates that the waiver could result in a ₦188.37 billion revenue loss over six months. Additionally, eligibility requirements for beneficiary companies, including being at least five years old and registered in Nigeria, have further complicated the rollout.

Critics, including business advocates and economists, see the policy’s lack of implementation as a sign of inefficiency and inconsistency in governance. Femi Egbesola, President of the Association of Small Business Owners of Nigeria, criticized the lack of coordination between government agencies, saying, “The blame game between the Nigeria Customs Service and the Federal Ministry of Finance over non-implementation is a clear sign of disarray. The government should focus on addressing food deficits through short-term imports while planning long-term solutions to support local agriculture.”

Economist and sustainability expert Marcel Okeke warned that the policy could harm local producers, stating, “Allowing imports could price local producers out of the market, similar to the decline of the textile industry when imports were allowed. This could discourage domestic production and flood the market with substandard imports.”

Okeke stressed the importance of self-reliance, urging the government to focus on supporting local producers. “The best approach is to grow our capacity organically, encouraging local producers to meet our needs, while using imports only as a supplement,” he said.

Finance Minister Wale Edun acknowledged the concerns and assured stakeholders that the policy is under review. “We are addressing emerging issues to ensure the policy does not undermine domestic food production capacity,” he stated.

As the debate continues, stakeholders remain divided on whether the policy’s benefits outweigh its potential risks to the Nigerian economy.

https://eyesoflagos.com/2025/01/09/hunger-crisis-worsens-as-tinubus-food-import-waiver-delayed/

Everyone should own up in this new year and stop complaining

The inflation this harvest season to january is simply unprecedented.

Hunger, a friend nor foe of no tribe.

Buhari's ban on food imports created employment and profit for farmers and Nigerians were not crying hunger, while Tinubu's food import waiver has made it unprofitable to farm and ebi npa Nigerians.

Go figure, I guess.

VenIe:
Everyone should own up in this new year and stop complaining

another Baby Motivational writer.
" All you need in 2025 is own Up"

VenIe:
Everyone should own up in this new year and stop complaining

chai new recruit

But Tinubu told us food security is part of his eight point agenda for Nigeria between August 29 2023 to August 28 2026.

1. food security;
2. poverty eradication;
3. growth,
4. job creation;
5. access to capital;
6. inclusion;
7. rule of law; and
8. fighting corruption

https://punchng.com/translating-tinubus-8-point-agenda-to-recovery/?amp

And the 50 million jobs promised between 2023 to 2026

https://www.nairaland.com/7821154/tinubu-sets-3-year-economic-revival