Firm Urges FG to Form Task Force for Zero Tax on Food Supplies

By Queen Egbodo

In a bid to address the ongoing food inflation crisis, Greenbles Agtech, a Lagos-based tech for agriculture startup, is calling on the federal government to establish a presidential task force.

This task force, comprising state governors and security agencies, would work towards implementing a zero percent tax on all food supplies nationwide and impose severe penalties for non-compliance.

To tackle post-harvest losses, Greenbles Agtech suggests that the government invest significantly in mechanized farming.

They also advocate for creating a conducive environment for private sector participants by providing single-digit loans and enhancing farm settlements with essential infrastructure like shared storage facilities, roads, and electricity.

Despite these pleas, President Bola Tinubu, on February 15, rejected the idea of forming a price control board for food supplies, emphasizing a hands-off approach to the matter.

This decision comes amidst concerns raised by Oladapo Kasumu, co-founder and CEO of a tech startup connecting farmers nationwide, who attributes the country’s food inflation to various factors.

Kasumu points to middlemen in the agriculture value chain, highlighting their role in driving up the prices by selling food supplies to neighboring countries.

He underscores the impact of insecurity on agriculture, with farmers abandoning their lands due to threats from bandits, contributing to a poor harvest.

The persistent farmer-herder conflict across the nation remains a significant issue, impacting farm outputs and yields.

Kasumu criticizes the current administration for not effectively addressing this problem inherited from the previous government, emphasizing the need for a more robust response.

Additionally, Kasumu raises concerns about the government’s decision to eliminate the gasoline subsidy without implementing sufficient mitigating measures.

He explained that this move contributes to the rising costs of food supplies, as the majority of food transportation relies on vehicles fueled by gasoline and diesel.

In summary, Greenbles Agtech urges the government to take proactive measures, addressing issues like taxation, insecurity, and the elimination of subsidies to ensure the stability of food supplies and control inflation.