The U.S. Mission’s Foreign Agricultural Service (FAS) office in Lagos partnered with the Nigerian-American Chamber of Commerce’s (NACC) Kaduna Chapter and the Nigeria Agribusiness Group (NABG) to host a “Discussion Roundtable on Innovative Approaches to Agricultural Trade for Economic Growth and Food Security.”
The event was attended by Nigerian agricultural trade policy advisors, legislator representatives, agribusiness leaders, researchers, regulators, and U.S. agricultural trade associations. The discussions focused on the impacts of Nigeria’s agricultural trade restrictions on food prices, local production, and investment. Experts presented on innovative approaches to agricultural trade that have successfully been used in other countries and could be adapted in Nigeria to support its economic growth and food security goals.
The event featured the presentation of Nigerian-led research conducted in consultation with the National Institute for Policy and Strategic Studies (NIPSS) on the impact of Nigeria’s agricultural trade restrictions on food prices, local production, and value-added processing. Key findings from the NIPSS research highlighted the adverse effects of agricultural trade restrictions, including increasing food prices for consumers, shifting trade to informal channels which reduce government revenues and decrease food safety oversight, and a lack of regulatory clarity for Nigerian agribusinesses engaged in trade. Recommendations included adjusting trade restrictions to ensure long-term stability of food prices and raw material availability. Experts presented case studies of innovative agricultural trade practices, such as tariff rate quotas and a private-sector led export trading company mechanism that transparently values and distributes the financial benefits of an import quota to domestic stakeholders for scientific, educational, or promotional programs.
During the event, Matthew Obogbaimhe, Chairman of NACC’s Kaduna Chapter, shared that “Revitalizing Nigeria’s agricultural sector requires more than trade restrictions; it demands innovation, sustainable practices, and investment in infrastructure. This vision is why the Nigerian-American Chamber of Commerce chose to partner with FAS to drive agricultural innovation and trade across Africa.”
Source : usembassy.gov