Connect with us
Advertisment

Business

NASRE Advises FG On Food Crisis, Forex Shortage Amid Calls To Suspend Import Ban

Published

on

NASRE Advises FG On Food Crisis, Forex Shortage Amid Calls To Suspend Import Ban

NASRE Advises FG On Food Crisis, Forex Shortage Amid Calls To Suspend Import Ban

 

Advertisment

 

As Nigeria finds itself at a critical crossroads, grappling with simultaneous challenges of a food crisis and a foreign exchange (forex) shortage.

Advertisment

 

NASRE Advises FG On Food Crisis, Forex Shortage Amid Calls To Suspend Import Ban

 

Advertisement

 

This is even as the nation seeks solutions to mitigate these pressing issues, the debate over whether to open its borders for importation has intensified.

 

 

 

 

The food crisis gripping Nigeria has raised concerns about food security and access to essential nutrition for millions of citizens.

Adverse weather conditions, supply chain disruptions, and other factors have contributed to dwindling food supplies and soaring prices, placing a significant strain on households and exacerbating the vulnerability of already marginalized communities.

Meanwhile, the forex shortage has hampered Nigeria’s ability to import essential goods and raw materials, further exacerbating supply chain disruptions and exacerbating inflationary pressures.

Industries reliant on imported inputs, including agriculture, manufacturing, and healthcare, have been particularly hard hit, impeding economic growth and development.

In response to these challenges, some stakeholders advocate for opening Nigeria’s borders to facilitate the importation of food and other essential commodities.

Proponents argue that increased importation could help alleviate immediate food shortages, stabilize prices, and provide relief to vulnerable populations facing hunger and malnutrition.

However, others caution against the potential risks of opening borders amid a forex shortage. Critics raise concerns about the impact on domestic production and self-sufficiency, as well as the long-term consequences of relying heavily on imported goods. They emphasize the need to prioritize investments in domestic agriculture and infrastructure to build resilience against future crises.

As Nigeria navigates these complex issues, the government faces the daunting task of balancing short-term relief efforts with long-term strategies for sustainable development and economic resilience.

Proffering suggestion on how the government can address the unending inflationary pressures, Forex shortages, food prices hike and revitalise the nation’s economy, the Nigerian Association of Social and Resourceful Editors (NASRE), has advised the Nigerian government to adopt collaborative efforts involving policymakers, industry stakeholders, civil society organizations, and international partners to identify holistic solutions that address both immediate needs and underlying structural challenges.

On the debate over whether Nigeria should open its borders for importation amid the food crisis and forex shortage, the President of the advocacy group, Mr Femi Oyewale, underscores the urgency of coordinated action and innovative thinking.

According to him, now more than ever, solidarity, cooperation, and forward-thinking policies are needed to ensure the well-being and prosperity of all Nigerians.

“The question of whether Nigerian borders should be opened for food importation in the face of a food crisis is complex and multifaceted. However, there are factors to consider, which basically, Domestic Agricultural Capacity. Because opening borders for food importation could undermine domestic agricultural production by flooding the market with cheaper imported goods.

“However, if domestic production is insufficient to meet demand, importing food may be necessary to avoid shortages,” he said.

On the economic implications of borders opening, the President of NASRE, Oyewale, said: “Importing food can have economic ramifications, both positive and negative. On one hand, it can provide access to a wider variety of foods and potentially lower prices for consumers. On the other hand, it may negatively impact local farmers and exacerbate trade imbalances.”

The resourceful editors, while commenting on Food Security, pointed out that relying heavily on imported food leaves a country vulnerable to supply chain disruptions and price fluctuations in the global market. Therefore, it urged the federal government to develop a robust domestic agricultural sector, which is crucial for long-term food security.

According to Oyewale, the Nigerian government must consider its broader economic and agricultural policies when making decisions about food importation. This includes evaluating subsidies, tariffs, and investment in agricultural infrastructure.

“Importing food often involves long-distance transportation, which contributes to greenhouse gas emissions and environmental degradation. Promoting local production can help reduce the carbon footprint associated with food consumption.

“Food is not just a commodity; it is essential for human well-being. Government policies should prioritize ensuring access to nutritious and culturally appropriate food for all citizens, particularly those most vulnerable to food insecurity,” he added.

The Nigerian Association of Social and Resourceful Editors, NASRE, therefore, noted that the decision to open Nigerian borders for food importation during a food crisis should be approached cautiously, taking into account the country’s domestic agricultural capacity, economic implications, food security goals, environmental concerns, and social welfare considerations.

“A balanced approach that supports both domestic production and responsible trade practices may be necessary to address immediate food shortages while also promoting long-term food security and sustainability,” the Association stated.

Advertisment

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

Business

Why You should Patronize Cassandra’s Restaurant and Lounge

Published

on

Why You should Patronize Cassandra’s Restaurant and Lounge

Good food is the foundation of genuine happiness.” – Auguste Escoffier. as Escoffier said, one of the best places to enjoy a sumptuous meal that gladdens the heart is Cassandra’s Restaurant and Lounge.

Advertisment

CEO

 

Advertisment

 

Known for tasty and healthy food prepared under a thorough hygiene environment, Cassandra’s Restaurant has become the haven of genuine happiness for those desiring good food

The beautiful thing is they are specialist on both local and Continental meals and can be delivered to you destination.

Advertisement

 

That is why Cassandra has become the favorite of dignitaries and celebrities. For your party, house warning, red carpet events, try Cassandra restaurant. A trial will convince you

 

Contact:

@casandras_restaurant

08061152335

 

 

Why You should Patronize Cassandra's Restaurant and Lounge

 

 

Advertisment
Continue Reading

Business

UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

Published

on

UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

 

Advertisment

Africa’s Global Bank, the United Bank for Africa (UBA) Plc marked the this year’s Africa day, with fanfare. The event which was celebrated across the banks 20 African subsidiaries, including New York, UK, France and Dubai, culminated into a mini carnival at the corporate head office in Marina, Lagos as it witnessed  a rich culture of African people on display.

The bank said the event was aimed at encouraging Africans home and abroad to be patriotic and embrace their culture.

Advertisment

It was all colour and glitz as a troupe of dancers representing Nigeria, Ghana, Zambia, Côte d’Ivoire, Senegal, Zimbabwe, among other African countries, entertained the audience from the entrance of the building to its doorways through to the Tony Elumelu Amphitheatre Hall. Their overall performances exuded good vibes and earned them ovation from all.

Noting that Africa has unarguably positioned herself as the second largest continent in the world with its rich cultural heritage, the bank said the continent remains the only one in the world that was evidently bequeathed with the most colourful and distinctively diverse culture appreciated across the globe.

From her aesthetic art works, ethnic costumes, expressive dances, mind-blowing plethora of languages, amazing dishes, tourists attractions, and wildlife among others, Africa is seen as a world power that is yet to explore.

Advertisement

It is, therefore, to proudly and powerfully project her cultural heritage that UBA hosted the event in Lagos an to commemorate this year’s Africa Day. It said that part of its aim was for dignitaries to map out lasting solutions to persisting challenges in the continent.

Themed, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa,” for us at UBA, it only reinforces our belief and passion for education as exemplified in our foundations National Essay Competition where winners who emerge are given scholarships through school.

According to the Group Managing Director, United Bank for Africa, Oliver Alawuba, “We are in 20 African countries and four countries outside Africa. Our focus has always been on not only driving investments into Africa but also to empower Africa’s youth by honing the critical thinking prowess of our youth as well as groom them for leadership roles across the continent.

Alawuba said UBA aspires to develop and grow in the world, adding that unity is critical and very important in Africa hence the emphasis on how to change the narrative. “Unity is critical and very important for the future of Africa, we need to remain united to achieve our aspirations and the youth are critical to that growth”, he said.

Consequently, as one of Africa’s leading financial services institutions, with a pan-African footprint spanning 20 African countries and globally in the US, UK, the United Arab Emirates and France, UBA says it’s fully committed to unifying Africa and empowering youths for the future. It also continues to lead the narrative focused on the development, growth, and unity of Africa

Advertisment
Continue Reading

Business

Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World …We consider this project CSR – Dangote

Published

on

Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World

…We consider this project CSR – Dangote

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.

Advertisment

This is just as he commended the President of Dangote Industries Limited, Alhaji Aliko Dangote, for his selflessness in actualising the project.

President Tinubu, represented by Senate President Godswill Akpabio, enthused that the 37-kilometer road, which commenced in 2018 by the former administration and completed in 2024, is a win for all Nigerians.

Advertisment

He explained that the importance of Lagos State to Nigeria makes it very vital and as such must work for the benefit of all.

According to him: “Lagos is home to all, I thank Aliko Dangote for coming up with this initiative and in partnership with HiTech have delivered the Tenth Wonder of The World.

“Lagos is not the only state experiencing growth and development under the renewed hope agenda. I also congratulate the Minister of Works David Umahi for his passionate commitment to structural development across Nigeria,” he said.

Advertisement

Speaking on the “extremely poor” condition of the road before December 2018, Dangote stressed that the road “severely hampered the evacuation of goods and restricted access to the markets, paralyzing the shipping and manufacturing industries and disrupting supply chains across the entire economic landscape.

“Before the completion of this road, it used to take two weeks before we get to the port, and in about 18 months, we lost over N60bn in demurrage…The successful completion of this project is an example of the positive impact that can be achieved when the public sector collaborates with the private sector.” Dangote said

“Utilising the visionary framework of Executive Order 007 in Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Dangote Group has been able to mobilise capital for the complete refurbishment of the entire 37 kilometers length of Apapa-Isolo-Oworonshoki road and its expansion to 10 lanes.”

Dangote added that the Group was privileged to partner with the Federal Government in the transformative efforts, reaffirming its commitment to national development and prosperity.

He also stated that the scheme must be revisited to make it more viable for the private sector participants. “In this case, we have so far recovered only 40 percent of our investments and the balance is not due until 2027, we consider this project merely as Corporate Social Responsibility.

“We believe that a more commercial interest rate recovery should be allowed given the high cost of capital in the Nigerian fiscal environment,” he said.

In his remarks, Engr Umahi also commended the Dangote Group for delivering a well-executed project, adding that the quality of the Dangote Cement is a testament to the value seen on the road.

“I was once trapped for 8 hours on my way to the airport and so, I understand how terrible the road was. We are celebrating this project today because it was well done and a display of new technology. It is fully completed with solar-powered streetlights.

“In the same vein, the Third Mainland Bridge wasn’t just another rehabilitation work, a road that has been standing for about 40 years… to ensure that our bridges last longer, I’m happy to announce that Mr. President has approved the ban on the excavation of sands 10 kilometers from bridges across Nigeria.”

The Governor of Lagos State, Babajide Sanwo-Olu, represented by his deputy, Obafemi Hamzat revealed that about 20 companies had relocated from the Apapa axis of the state owing to the condition of the road, “…the state of the road is unimaginable. We are grateful to Aliko Dangote, HiTech for the excellent job they did. It used to take over seven hours to drive from one end of the road to the other, it now takes around an hour,” he said.

 

Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World
…We consider this project CSR - Dangote

Advertisment
Continue Reading

Cover Of The Week

Trending