Photo credit: Ayade Farms
The news today is that Nigeria will start exporting yam to Europe and other foreign countries.
Some people are looking at it from the economic angle and they are saying it is a splendid idea. Others are looking at it through the view of scarcity of things in Nigeria and they are saying it is elitist and therefore a selfish idea. They are saying, the government must first satisfy the consumption of food in Nigeria before thinking of exports.
While I appreciate the concerns of those who are against the idea, I am fully in support of it. These are for a number of reasons.
Nigeria has been a mono economy for long. At the same time, we import a lot of things. I don’t think we have started producing tooth picks here.
If we have, congratulations.
Our being dependent on crude oil has rendered us vulnerable to any northward slide in the crude oil market. The negative disparity in the foreign exchange is due to the fact that the traditional importers of crude oil are finding replacements for our crude oil.
Yet, our demand for foreign exchange, rather than going down is increasing by the second. Even an infant knows that Nigeria needs to diversify.
If Nigeria starts to export not just yams, but other agricultural products, there is no doubt that the balance of trade will be more in our favour. That means the dollar will be going down in favour of the naira. Of course, imports will be much more affordable.
Apart from that, when the government realises the position of agriculture in terms of foreign exchange, I foresee its being more serious about agriculture. The private sector too will not be found wanting.
So, there is no way local consumption will be negatively affected. Rather, local consumption will be increased. A Yoruba proverb says, there is no way a person feeding a child will go hungry.
I believe I should add that government should not do the old type of exportation. That is, exporting raw materials without adding value.
If Nigeria can add value to whatever is being exported, there will be a large growth of agro based industries. This will, of course, lead to a lot of employment.
The administration should actually be applauded for this wonderful step!
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