In response to the mounting challenges posed by food inflation, the Federal Government of Nigeria has unveiled plans to establish a National Commodity Board aimed at addressing the crisis.
Vice President Kashim Shettima revealed this initiative during a two-day, high-level strategic meeting on climate change, food systems, and resource mobilization convened in Abuja.
Shettima elucidated that the proposed board would be entrusted with the crucial task of assessing and regulating food prices while also maintaining a strategic food reserve to stabilize the prices of essential grains and other food items.
He emphasized that the establishment of such an entity underscores the government’s commitment to mitigating the adverse effects of climate change and ensuring food security for all Nigerians.
The Vice President underscored the significance of food security within the broader framework of the government’s agenda, citing President Bola Tinubu’s declaration of food security as one of the eight priority areas under his Renewed Hope Agenda.
This declaration, Shettima noted, prompted the government to declare a state of emergency on food security, signaling a heightened sense of urgency in addressing the issue.
Highlighting ongoing policy reforms, Shettima outlined the administration’s multi-pronged approach to tackling the looming food crisis, encompassing short-term, medium-term, and long-term strategies. In the short term, he outlined initiatives such as the distribution of fertilizers and grains to farmers and households to mitigate the impact of subsidy removal.
Additionally, efforts are underway to enhance collaboration between the Ministries of Agriculture and Water Resources to ensure efficient farmland irrigation for year-round food production.
Addressing the issue of price volatility, Shettima reiterated the government’s commitment to establishing the National Commodity Board, which will play a pivotal role in continuously assessing and regulating food prices.
Furthermore, the board will oversee the maintenance of a strategic food reserve to stabilize prices of essential grains and other food items, thereby safeguarding the interests of consumers and producers alike.
In assuring stakeholders of the government’s steadfast commitment, Shettima underscored investments in the restoration of degraded land as a crucial component of the administration’s broader efforts to enhance agricultural productivity and ensure sustainable food security.
As the nation grapples with the multifaceted challenges of food insecurity and inflation, the government’s proactive measures signify a concerted effort to alleviate the plight of its citizens and foster a more resilient and inclusive food system for the future.
