A renowned political economist and former presidential candidate, Prof. Pat Utomi, has offered advice to address Nigeria’s rising inflation and food security challenges to the President.
In his recent New Year address, the President expressed a commitment to prioritize food production and economic stability through policies aimed at reducing inflation and ensuring food security, with a target to lower inflation rates significantly.
Utomi emphasized the importance of addressing insecurity, providing support to farmers, and implementing effective agricultural strategies to establish a reliable food production system in the country.
He cautioned against heavy reliance on food imports as a solution, citing negative impacts on foreign exchange reserves and local agriculture. Utomi highlighted the potential for imported food prices to remain high due to exchange rate fluctuations, which could hinder sustainable food production in Nigeria.
Utomi stressed the need for strategic government intervention to reduce food costs, promote agriculture among youth, and address security challenges promptly to alleviate hunger and inflation.
His proposals included the establishment of specialized agricultural security forces to protect farmlands, advocating for irrigation schemes to support year-round farming, and creating opportunities for unemployed youth to engage in modern agricultural practices, ultimately boosting food production and stabilizing prices.