In a bid to address the current food crisis plaguing Nigeria, Professor Anthony Kila, a distinguished Political Economist and Professor of Strategy and Development, advocates for a pragmatic short-term solution: the importation and subsidy of food.
The expert shared his perspective during a webinar organized for African and Caribbean Political Economists.
The food crisis in Nigeria has been exacerbated by inflation, triggered by a sudden surge in production and distribution costs, coupled with a reduction in the volume and variety of production. Professor Kila emphasizes the urgency of the situation, asserting that importing and subsidizing food could serve as a temporary measure until the country can secure more farming lands.
Addressing an international audience, Prof Anthony Kila outlined the need for approximately 10,000 subsidised food outlets nationwide to effectively manage the emergency.
He suggests that, while international efforts focus on long-term solutions such as enhancing production and lowering prices, the Nigerian government should promptly identify available food sources, negotiate with producers, even on credit terms, and expedite the delivery and distribution processes.
Contrary to relying solely on monetary policies orchestrated by the Central Bank of Nigeria, Kila emphasizes the importance of impactful interventions in the real economy. He calls for collaborative efforts from the ministries of economy, agriculture, and trade to address the multifaceted challenges at hand.
As he concludes, Prof Anthony Kila urges political economists in Africa and the Caribbean to play a pivotal role in guiding governments, businesses, and the public towards identifying opportunities for collaborations and navigating the path towards prosperity during these trying times.
