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NASRE Advises FG On Food Crisis, Forex Shortage Amid Calls To Suspend Import Ban
As Nigeria finds itself at a critical crossroads, grappling with simultaneous challenges of a food crisis and a foreign exchange (forex) shortage.
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.
NEWS
MultiChoice Talent Factory West Africa Celebrates the Next Generation of Storytellers at the 2024 Graduation Ceremony.
MultiChoice Talent Factory (MTF) West Africa, the pioneering initiative established to nurture emerging African filmmakers and storytellers celebrated the achievements of its 2024 cohort at its graduation ceremony on December 6 in Lagos. This is the fifth graduation ceremony by the MTF. The occasion signposts another successful year of empowering young filmmakers in Africa. Each year, the MTF programme trains 60 young filmmakers across its various academies through a comprehensive, fully funded cinematography course. The programme equips participants with the technical and creative skills necessary to craft compelling stories that highlight Africa’s cultural wealth to worldwide audiences.During her congratulatory message, Executive Head of Content and Channels, West Africa, MultiChoice, Dr Busola Tejumola stated that the graduation ceremony is a time of celebrate creativity, dedication and the exceptional achievements of the grandaunts.“This ceremony is more than just an acknowledgment of academic journey; it is a physical mark of the graduation into an elite class of the MTF Alumni Network, a family whose contributions continue to shape the narrative of African storytelling globally.”Dr Tejumola also stated that in just one year, the students have made great strides including the selection of Non Cras by Elma Baisie at the Life-Off Global Network and Get Out of Your head by Oluwayanmife Arogundade and Winner Achimugu at the Afropolis Lagos 2024.Atinuke Babatunde, Academy Director of MultiChoice Talent Factory (MTF) West Africa, noted that the sub-region is crucial to the continent’s film and television industry.”West Africa is a hub of cultural richness and vibrant storytelling, which has been the foundation of its thriving film and TV industry. Through the MultiChoice Talent Factory, we have consistently supported the development of exceptional talents, who are capable of elevating this heritage to global standards. The 2024 cohort has been phenomenal, and we are excited to celebrate their achievements as they graduate,” Babatunde said.During the event, the three best graduating students won one-year scholarships to international film schools. Winner Achimugu and Anjoluwa Aluko won scholarships to the New York Film Academy and Zee World, India respectively while Adejo Edebo Emmanuel won a scholarship to learn at MNET Production in South AfricaThis year, MTF West Africa collaborated with the Earthshot Prize initiative, producing projects focused on environmental sustainability. Among these are “Revive the Ocean,” which explores innovative solutions for ocean preservation; “Racing Against Time,” a mini documentary addressing the dangers of plastic waste; and “2070,” a thought-provoking short film envisioning future environmental challenges. Students of the Academy fully conceptualised, shot, and produced these projects, demonstrating their ability to create compelling stories. Additionally, Rekiya, a short film by the class of 2023 has been selected at AFRIFF 2024 and Poached, directed Adeola Andrea Peregrino, earned accolades including 1st Prize in the LEAP Africa USAID Film Contest, 2nd Prize at the IOM Film Contest and was an official selection at AFRIFF 2024 and at Edo State Festival. Love from Bayelsa, written by alumnus Gabrie Odigiri won Best Short Film of the Year at the Imo International Film Festival. The graduation of the 2024 cohort represents yet another milestone in MTF’s ongoing commitment to upskilling exceptional storytellers, who continue to redefine the African narrative on a global stage.
NEWS
Tourism Drive: Governor AbdulRazaq intensifies efforts to rebuild Patigi Regatta Motel
•eyes global recognition for Patigi Regatta Kwara State Governor Abdulrahman Abdulrazaq is intensifying efforts to rebuild the long-abandoned Patigi Regatta Motel located in Patigi local government area of the state.The reconstruction of the Patigi Regatta Motel was started few months ago and will be delivered with classic rooms, VIP suites, a conference hall, a restaurant, courtyards, shopping areas, expansive parking space and more.Located along Kpada Road (Federal Road) and 1500m from Kusogi Park in Patigi town, the completion of the iconic Motel will help solve the problem of accommodation during the historical Patigi Regatta Festival in the town.Founded in 1949, the Patigi Regatta Festival is a boating event featuring boating races, fishing and swimming. The festival is attended by tourism enthusiasts within and outside the State and country. However, the issue of accommodation during the festivity calls for concern. With the ongoing efforts to rebuild the Motel, Governor Abdulrazaq aims to provide quality accommodation for visitors, enhance the overall tourist experience, create jobs and boost the State’s internally generated revenue.Additionally, the Governor aims to restore a sense of pride and heritage in the State and put the Patigi Regatta Festival on the global map just like other cultural and traditional festivals in the state.
NEWS
Development Bank of Nigeria Plc Wins Financial Inclusion Leadership Award
The Development Bank of Nigeria Plc (DBN) has emerged winner of the Financial Inclusion Leadership Award. This is in recognition of the Bank’s unwavering commitment to fostering access to financing for the Nigerian micro, small and medium enterprises (MSMEs). The award was bestowed on DBN at the “Champions of Inclusion Nigeria Financial Inclusion Awards” during the recently-concluded International Financial Inclusion Conference (IFIC) 2024, organised by the Central Bank of Nigeria (CBN) in collaboration with the World Bank and other stakeholders. Commenting on the prestigious award, DBN’s Managing Director/CEO, Dr Tony Okpanachi, said winning the Financial Inclusion Leadership Award was a testament to the Bank’s unrelenting efforts in expanding access to financial services for MSMEs in Nigeria. “We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs,” he stated. Dr Okpanachi added: “Additionally, this award is a validation of our strategic focus on driving financial inclusion for small businesses, and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services.”The Chief Operating Officer of the Bank, Mr Bonaventure Okhaimo, while receiving the award on behalf of DBN, expressed gratitude to the organisers for the recognition, describing it as a significant milestone. “The Financial Inclusion Leadership Award is a significant milestone for our Bank, demonstrating our dedication to driving financial inclusion and economic growth in Nigeria. This award acknowledges our Bank’s innovative approach to widening opportunities for MSMEs in Nigeria to grow and scale their businesses,” he said. The COO stated further, “This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact. We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard.” He emphasized. The Financial Inclusion Leadership Award is a key highlight of the International Financial Inclusion Conference (IFIC) and celebrates exceptional contributions to actions aimed at achieving the goals outlined in Nigeria’s National Financial Inclusion Strategy 3.0.The awards recognize organizations and individuals across various sectors who are driving meaningful dialogue, and broadening access to financial services for low-income excluded priority segments, including the MSMES sector, with inadequate funding being one of the challenges that inhibit the growth of small businesses in the country.
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