Ololade Adeyanju/
A Political Economist and Professor of Strategy and Development at the Commonwealth Institute of Advanced and Professional Studies, Anthony Kila, has backed the importation and subsidy of food as a means of dealing with the current food crisis Nigeria is dealing with.
Speaking at an international forum of African and Caribbean Political Economists on a webinar organized to discuss economic and developmental opportunities in African and Caribbean countries, the don observed that the situation Nigeria is dealing with is inflation induced largely by sudden and astronomical increases in the cost of production and distribution as well as a reduction in volume and variety of production. A pragmatic short-term solution, according to the renowned expert will be to import and subsidize food for as many people as possible.
Prof Kila said, “There is an emergency in the country and there is nothing wrong with importing and subsidizing food to deal with the current food crisis, we can do both as a temporary measure till we can secure farming lands and grow more food and we need about 10,000 subsidized food outlets across the country to manage the emergency.
“While internationally preparing for better production and lower prices that will take months, the government can step in to identify where the food items are available inside and outside the country, negotiate with food producers even on credit bases and fast track its delivery into and distribution in Nigeria.”
Prof Kila added that monetary policies led by the Central Bank of Nigeria could not save the situation in the country.
He said, “We need more impactful intervention on the real economy, the ministries of economy, agriculture as well that of trade need to make their impact felt.”
The popular public analyst also called on political economists in African and Caribbean countries “to help people government and businesses identify opportunities for collaborations and guide them towards prosperity”.
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