Six months after the Nigerian government announced measures to tackle soaring food prices, citizens have yet to feel the impact of the promised interventions.
In July 2024, the Minister of Agriculture and Food Security, Abubakar Kyari, unveiled a series of strategic plans to combat rising food costs. The measures, announced via Kyari’s verified X handle, were to be implemented over 180 days with the aim of reducing food inflation.
The initiatives included a 150-day duty-free import window for certain food items such as maize, husked brown rice, wheat, and cowpea. Duties, tariffs, and taxes on these items were also suspended for the specified period.
“Our administration has introduced strategic measures to address the high food prices currently affecting our nation,” Kyari had stated, emphasizing that the policies would bring relief to Nigerians within six months.
However, as the 180-day timeline elapsed on January 7, 2025, food prices remain alarmingly high. Reports indicate that the measures failed to deliver the expected results due to bureaucratic bottlenecks and poor implementation.
Alarming Food Inflation Trends
Data from the National Bureau of Statistics (NBS) paints a grim picture. Food inflation reached 40.87% in June 2024, up from 40.66% in May, driven by rising prices of staples like yam, garri, and millet. Despite slight reductions in inflation during July and August, it surged again in subsequent months, peaking at 39.93% in November.
The situation has led to widespread hardship, with many Nigerians struggling to afford basic food items. According to the NBS, affordability and availability of food in Nigeria remain among the worst globally.
President Tinubu’s Promise
In his 2025 New Year message, President Bola Tinubu acknowledged the inflation crisis and pledged to lower food prices and reduce overall inflation to 15% from the current 34.6%. He emphasized boosting food production and promoting local manufacturing of essential goods as key strategies.
“We are resolute in our ambition to reduce inflation and provide relief to all Nigerians,” Tinubu assured.
Economic Experts Weigh In
Economic analysts have criticized the government’s approach. Gbolade Idakolo, CEO of SD & D Capital Management, attributed the failure of the zero-tariff policy to bureaucratic inefficiencies. He also questioned the short time frame for implementation, suggesting a minimum of two years to achieve meaningful results.
“Nigerians are yet to see the benefits of these policies because the government has not effectively walked the talk,” Idakolo said.
Dr. Samson Simon of ARKK Economics and Data Limited highlighted Nigeria’s poor standing on the global food security index. He noted that affordability and availability of food are critical issues that have yet to be addressed.
“Insecurity is another major challenge,” Simon added, explaining that many farmers are unable to access their lands due to the risk of violence.
Recommendations
Experts have called for a more comprehensive and intentional approach to addressing food insecurity. Simon suggested allocating a quarter of the national budget to agriculture and ensuring effective use of funds through mechanization, research, and improved security.
“The government needs to prioritize agriculture and provide adequate security to encourage farming activities,” he said.
As Nigerians await tangible solutions, the ongoing food crisis underscores the urgent need for effective policies and decisive action to alleviate the burden on citizens.
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