A policy think-tank group, Independent Media & Policy Initiative (IMPI), forecasts a significant drop in food prices following the federal government's suspension of import duties on essential food items. The Comptroller-General of Nigeria Customs Service, Adewale Adeniyi, announced the suspension on Monday, a move praised by IMPI as timely amid current economic challenges.
IMPI Chairman, Chief Niyi Akinsiju, highlighted the positive impacts of President Bola Ahmed Tinubu’s agricultural policies during a quarterly assessment in Abuja. He noted the government's distribution of agricultural inputs and the $20 billion in foreign investment commitments aimed at revolutionizing the sector. Akinsiju emphasized the potential for increased food availability and affordability due to these interventions.
The group urged state governors to support federal efforts in boosting agriculture, commending states like Kebbi, Niger, and those in the Southwest for their contributions. IMPI also praised improvements in the nation's foreign reserves and power sector, including the commissioning of the Zungeru Hydro-Electric Power Station and new substations in Kebbi and Lagos.
IMPI called for patience and dialogue from those planning nationwide protests, stressing the importance of maintaining economic momentum. The group acknowledged citizens' right to protest but emphasized the need for substantive and achievable reasons to avoid counterproductive outcomes.
