Policy inconsistency hampering Nigeria’s agricultural sector, says Sanusi

Muhammadu Sanusi, the Emir of Kano, says policy somersaults are a clog in the wheel of Nigeria’s economic and agricultural development.

The former governor of the Central Bank of Nigeria (CBN) spoke during a joint session of the United Nations World Food Programme (WFP) and the African Development Bank (AfDB) organised on the sidelines of the Nigeria Economic Summit in Abuja.

The session focused on ‘Investing in Innovative Food Systems Solutions in Challenging Contexts’.

“The biggest problem I have seen with our country is the lack of policy continuity. Every time you have an election, it is as if everybody starts on a clean slate,” he said.

“A civil service that should preserve institutional memory has either by design or default failed to do so. So, every few years, we come back discussing the same issues.”

Sanusi recalled that during his tenure as CBN governor, he initiated a study of six agricultural value chains to improve lending and promote investments in local production.

“We discovered 13 tomato varieties suitable for paste production, but outdated laws blocked their commercialisation,” he said.

“We had to fight for policy amendments. Yet, before the reforms could mature, the project was abandoned.

“There is not enough money in government to fix every farmer’s challenge. What government can do is create confidence for private investment to thrive.

“In trying to bring down food prices, we wiped out the profits of producers and created non-performing loans in banks.

“If we keep changing direction, we’ll never fix poverty or attract investment.”

The monarch underscored the nexus between agricultural policies and long-term development goals, saying policy stability is crucial for fighting poverty, ending insecurity, and building an inclusive economy.

“Fixing the value chain is the best way to deal with poverty in northern Nigeria. But we must ensure the next government does not start from stage one again,” he added.