President and governors aim to prioritize local food production over importation

The decision made by the President and the governors, refusing to rely on importation as a solution to the severe food crisis in the nation, has received full support from the All Farmers Association of Nigeria and the organized private sector. Additionally, they fully endorse the measures being taken to crackdown on hoarders.

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye said, “We commend the President’s directive to state and Federal Government agencies to enhance collaboration in bolstering local food production rather than resorting to food importation and price control. This approach aligns with NACCIMA’s core objectives of championing the agricultural value chain and supporting local producers. It is a vital step toward self-sufficiency and economic resilience.

“However, we believe that the issue of rising food costs is multifaceted. While local production capacity is a critical factor, we cannot overlook the significant impact of the depreciating value of the Naira.

“The current exchange rate exerts inflationary pressure on input costs, thereby affecting overall food prices. To counter this, a robust economic policy aimed at defending the Naira to reach an acceptable exchange rate of 750 Naira to one USD is essential. A stable currency will not only make agricultural inputs more affordable but will also bolster consumer purchasing power.”

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