Nigeria is poised to significantly reduce its reliance on food imports, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
During a press conference in Abuja on Thursday, marking the country’s 64th Independence Day, Edun outlined a bold strategy aimed at boosting domestic agricultural production and enhancing food security.
Edun declared that the era of heavy food importation must come to an end, positioning this shift as a key component of the government’s economic recovery plan. “We should not be importing food,” he emphasized, underscoring the importance of self-sufficiency for Nigeria’s future.
The government is committed to supporting small-scale farmers by providing essential inputs, such as seeds and fertilizers, through initiatives like the Nigerian Agricultural Growth Scheme.
This support aims to improve both wet and dry season harvests, reducing the need for imports in the short term while increasing productivity in the long run.
As a short-term measure, the government has authorized maize and wheat imports to stabilize the food market. However, Edun stressed the importance of balancing these imports with domestic production, warning that, “It is critical that we do not disrupt local farming by flooding the market with imports.”
Edun made it clear that reducing food imports is not only an economic imperative but also a vital step towards Nigeria’s long-term self-sufficiency. He argued that this new strategy will guide the country towards economic independence and food security.
His remarks come as Nigeria faces rising food prices and an agricultural sector that falls short of global productivity standards. The government’s long-term objective is to more than double agricultural yields through the use of improved seeds and better farming practices.
This push to revitalize agriculture is part of a broader economic reform effort, as the country also deals with the impact of the recent removal of fuel subsidies.
In addition, Nigeria’s Minister of Budget and National Planning, Abubakar Bagudu, pointed out the challenges posed by the country’s rapidly growing population.
Bagudu highlighted that Nigeria’s population has nearly doubled from 119 million in 1999 to 230 million today, leading to increased demand for infrastructure, education, and healthcare services.
“There are 230 million of us,” Bagudu stated, noting that while population growth has been rapid, economic expansion has not kept pace. “Our population has grown fivefold, yet our economy has not expanded at the same rate.”
