In response to the pressing issue of rising food prices, the Federal Government of Nigeria has unveiled plans to establish a National Commodity Board aimed at addressing food inflation and ensuring stability in the market.
Vice President Kashim Shettima disclosed this initiative during a two-day, high-level strategic meeting on climate change, food systems, and resource mobilization convened in Abuja on Tuesday.
Shettima elaborated that the proposed board would be tasked with evaluating and regulating food prices, alongside maintaining a strategic food reserve to mitigate fluctuations in the prices of essential grains and other food items.
The event, according to Shettima, underscores the government’s commitment to mitigating the adverse effects of climate change and ensuring food security for all Nigerians.
“The short-term strategy entails revitalizing food supply through specific interventions like the distribution of fertilizers and grains to farmers and households to counteract the effects of subsidy removal; fostering collaboration between the Ministry of Agriculture and the Ministry of Water Resources for efficient farmland irrigation, ensuring year-round food production, and addressing price volatility by establishing a National Commodity Board.”
As reported by Punch, he emphasized that food security ranks among the top priorities outlined in President Bola Tinubu’s Renewed Hope Agenda, prompting the declaration of a state of emergency on food security.
“We have gathered key stakeholders from across Nigeria and all over the world to commence the resource mobilization conversation for smallholder farmers in Nigeria and Africa and emphasize the urgency of action required in the face of the current and growing food crisis,” Akobundu remarked.
Join our twitter community :