Managing Director of UAC Foods Ltd, Mr. Oluyemi Oloyede has, advised the federal government to be open to food importation as Nigeria continues to face food inflation.
He also reiterated the need for Nigeria to scale its competitive advantage in crops like cassava, yam, cocoyam, beans, and melon seeds rather than compete with other countries in wheat, sugar, or milk.
Oloyede stated this at the 10th Regional Food Science and Technology Summit/NIFST Day 2024 celebration on Thursday in Lagos, with the theme “Attaining Sufficient, Safe, and Healthy Food for Nigerians Through Food Science and Technology.”
He pointed out that Nigeria cannot produce all the food it needs and must determine the foods to produce and those to export and create an open market that allows import and export.
“As a country, we cannot produce all foods, no country in the world does, hence we need to decide on what is to be produced and exported. We must operate an open market that allows us to export and import. Nigerians need to stop seeing imports as evil, especially when we are battling with food inflation and other countries are able to produce these foods cheaper,” he said.
According to Oloyede, Nigeria is a large producer of cassava, yam, cocoyam, beans, and melon seeds and among the largest producers of groundnuts, maize, rice, and plantain, so instead of trying to compete in wheat or sugar or milk, at least for a start, we should first scale where we have competitive advantages.
“We need to increase acreage, support mechanisation, release improved seeds that will increase yields, subsidise scaled production and use some of these as substitutes where we do not have a competitive advantage,” he stated.
