This article critically analyses the FISP to interrogate the claims that it could be the model for the rest of Africa to emulate in a bid to revive the fledging agricultural sector after years of neglect. A critical analysis reveals that the FISP is a qualified and not an absolute success as propagated in the calls for it to serve as a model for implementing smart subsidy across the continent. It further shows how the FISP has been exploited in terms of design, implementation and management to achieve political dividends while guaranteeing food security since its launch in the 2005/06 growing season. The main argument of this article is that challenging the absolute success narrative of the FISP is critical because it would enable African countries to adapt it to the uniqueness of their domestic political, economic and social realities. The main issue is that policies’ chance of success cannot be judged on their theoretical or technical attributes without considering the institutional, political and cultural context in which they are applied.