Tinubu urged to reverse policy on food importation

Jet FarmsNG urged President Tinubu to reverse the policy suspending duties, tariffs, and taxes on essential food imports, arguing it harms local farmers who face high input costs. CEO Jerry Tobi criticized the uncalculated approach and stressed the need to support local production. He highlighted systemic issues in agriculture, questioned the status of national food reserves, and called for measures to ensure a stable harvest season. Tobi advocated for strategic investments in local farming and cautioned against reliance on imports, suggesting a reduced duty-free period to 90 days for better assessment. Source: Vanguard

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The decision to suspend duties, tariffs, and taxes on essential food imports for 150 days, as announced by Nigeria’s government, faces criticism from Jet FarmsNG CEO Jerry Tobi. Tobi argues this policy undermines local farmers who have invested heavily in their crops. While aimed at addressing food inflation, Tobi insists that the approach is poorly calculated and harmful to domestic agriculture. Instead, he advocates for enhancing local production capabilities, providing robust support to farmers, and ensuring strategic measures for long-term food security and economic sustainability.