Chairman and Founder of Shine Bridge Global, Dr. Tony Bello, has emphasised the need for a long-term solution to food inflation, urging the government to focus on production and productivity.
Bello, In an interview with ARISE NEWS, commended the Federal Government’s efforts to boost wheat production in northern Nigeria and the natural agricultural credit scheme to empower smallholder farmers.
However, he cautioned against reliance on food importation, stressing the need for private sector engagement and investment in production.
“We must commit to investing in production, at least equivalent to what we are given in import licenses. Let’s not just be consumers, let’s also be producers,” he said.
Bello stated, “Agricultural technology is yielding success in Nigeria, particularly in northern regions, with a significant boost in wheat production.
“The natural agricultural credit scheme is empowering smallholder farmers, a vital private sector group.
“With $1 billion in total, including $520 million for agricultural industrialization and $300 million for the green imperative, we must focus on production, productivity, food preservation, processing, and consumer goods manufacturing as an investment banker,”he said.
He also echoed that the Lagos Rice Farmers Association’s call for the government to create an enabling environment, including access to affordable financing and infrastructure development.
“The real agricultural work happens at the state level,” he noted.
Bello warned that relying on short-term measures could undermine the progress made in reducing rice imports over the past 12 years.
“Beware of the little foxes that spoil the vine. Our harvest is near, let’s not rely on food imports.
“Our 12-year food import substitution policy has succeeded.
“Hold importers accountable, ensure backstop measures for waivers, and prioritise Nigerian nutrition. Invest in production, don’t just consume, produce,” Bello urged.
Bello comments came as the government grapples with food inflation at 40.87% in June, which has surged in recent months.
His call for a focus on production and productivity resonates with the renewed hope agenda’s promise to “feed our people equally.”
“Keep a close eye on the renewed hope agenda’s promise to ‘feed our people equally’, which is where the changes and inflationary numbers we’re seeing are playing out,”he concluded.
Boluwatife Enome
Follow us on:
