ABUJA — President Muhammed Buhari has unceremoniously celebrated the success of the agricultural policy initiated by his administration.
According to him, the country can now brag about food sufficiency as it no longer has to Import food items from other countries.
On Friday, while at the presidential villa receiving the former prime minister of Ethiopia, Hailemariam Dessalegn, Buhari said his administration retreated to agriculture, owing to the fluctuating prices of crude oil.
“We needed to go back to the land, as petroleum could no longer sustain the country, particularly with fluctuating prices.
“Today, we eat what we grow, and we have stopped the importation of many food products. There’s no foreign exchange to even waste again.
“Agriculture has also helped us to generate employment. We have embraced technology, and some people are even leaving the offices to go back to the land. And they are not regretting it. That is the feedback we get,” he said.
But his acclaimed success is amidst growing food inflation in the country. According to the World Bank, high food prices had pushed about seven million Nigerians into poverty in 2020 only.
“Food prices accounted for over 60% of the total increase in inflation. Rising prices have pushed an estimated 7 million Nigerians below the poverty line in 2020 alone,” the organization said in a report published last Tuesday.
There has been an acceleration of food inflation in the country since 2019 partly due to the disruption of the food supply chain. This occurred when the Federal Government shut Nigeria’s borders to curb the smuggling of rice and other products
A report by SMB intelligence affirmed that a combination of the prolonged Boko Haram insurgents, a deteriorating currency, and higher fuel prices have also contributed to the crisis
Food inflation, a closely watched index spiked to 22.95% from 21.79% recorded in March 2021.
With inflation comes stagnant or irregular income which makes food, transportation, and other basic needs out of reach for average Nigerians.
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