Former Secretary to the Government of the Federation, Babachir Lawal, has accused President Bola Tinubu’s administration of flooding Nigerian markets with expired maize and rice, warning that the policy is devastating local farmers and turning agriculture into a “lost venture.”
Speaking in an interview on Trust TV monitored by The News Chronicle on Sunday, Lawal a large-scale farmer said the current administration has failed to improve the lives of ordinary Nigerians and is instead worsening their economic struggles.
“Fertilizer now costs N70,000, yet maize sells for just N65,000. They’ve dumped expired grains into our markets, collapsing the business for local farmers,” Lawal said.
He also claimed that a coalition of northern political leaders is already strategizing to oust the APC government in 2027, alleging that Tinubu’s appointments were deliberately crafted to “divide the electorate.”
“Even the Muslims who voted for him have been alienated, embarrassed, and underdeveloped,” he added.
BUA Boss Counters: Imported Food Policy Is Working
But in a sharp contrast, BUA Group Chairman, AbdulSamad Rabiu, has defended the government’s decision to waive duties and taxes on imported food, saying it has crashed the prices of key staples like rice, maize, and wheat.
Speaking to journalists after a meeting with President Tinubu at the Presidential Villa on Thursday, Rabiu said his company has taken full advantage of the tariff suspension to import large volumes of grain, leading to noticeable price reductions.
“Rice has dropped from N110,000 to N60,000 per 50kg bag. Flour is now N55,000, maize about N30,000 all because of the President’s foresight,” Rabiu said.
Rice Hoarders Hit Hard
Rabiu said the policy has also broken the grip of rice paddy hoarders, who typically buy in bulk during harvest and inflate prices later.
According to him, many of these speculators are now “crying” as the sudden influx of cheaper imported grain has crashed their profit margins.
“When we started selling imported rice, those hoarding paddy couldn’t compete. Prices dropped and are still dropping,” he noted.
Tinubu’s Food Strategy: Relief or Ruin?
The Tinubu administration introduced the temporary duty waiver in response to surging food inflation triggered by petrol subsidy removal and naira floatation in 2023. The government also declared a state of emergency on food insecurity earlier this year.
While critics like Lawal argue the move is undercutting local production and sabotaging farmers, proponents say it is offering much-needed relief to millions struggling with record-high food prices.
“People were loud when prices went up, but now that they’re falling, nobody’s talking. Well, I’ll say it food prices are coming down,” Rabiu declared.
As Nigeria’s food security debate intensifies, the divide between political actors and business leaders reveals a broader struggle over how best to fix a broken economy and feed a hungry nation.
