Hardship: Nigerian Govt moves to regulate food prices
The Federal Government plans to establish a National Commodity Board to solve the escalating food inflation in the country.
Vice President Kashim Shettima made this known on Tuesday at a two-day, high-level strategic meeting on climate change, food systems and resource mobilization held in Abuja.
Shettima explained that the board would be given the mandate to assess and regulate food prices, as well as maintain a strategic food reserve for stabilizing prices of crucial grains and other food items.
He said the event was an attestation of the government’s efforts at mitigating the effects of climate change and ensuring food security for Nigerians.
Shettima noted that food security was one of the eight areas of priority declared by President Bola Tinubu as part of his Renewed Hope Agenda.
This, according to him, led to the declaration of a state of emergency on food security.
He highlighted ongoing policy reforms by the administration to ensure food and water availability and affordability.
“Our solution to the potential food crisis has become immediate, medium, and long-term strategies."
“The short-term strategy entails revitalizing food supply through specific interventions like the distribution of fertilizers and grains to farmers and households to cushion the effects of subsidy removal."
“It also entails fostering collaboration between the Ministries of Agriculture and Water Resources for efficient farmland irrigation, ensuring year-round food production; and addressing price volatility by establishing a National Commodity Board."
“This board will continually assess and regulate food prices, maintaining a strategic food reserve for stabilizing prices of crucial grains and other food items.”
He assured that the Tinubu administration was fully investing in the restoration of degraded land.
Related news
Adaora Umeoji becomes the first female Group Managing Director of Zenith Bank
High cost of transport: More goods, food items’re travelling than people on yuletide
127 poultries shut down, over N5bn, lost to economic hardship – Farmers lament
More news »
Latest Posts
Top 5 best cheapest and fastest VPS hosting providers
What is remote work? (Meaning, Examples, Type, Pros and Cons)
How to become a professional Writer, (step-by-step guide)
Tips for becoming a successful public speaker, and monetizing your skill
ATBU shut down campuses after students’ protests
More Posts »