President Bola Tinubu has announced a state of emergency on food security in response to the persistent issue of food inflation in Nigeria.
The government has developed immediate, medium, and long-term interventions to tackle food shortages.
These measures include providing fertilizers and grains to farmers and households, as well as assigning responsibility for food and water to the National Security Council.
To support the agricultural sector, funds from the removal of fuel subsidies will be allocated, and a National Commodity Board will be established to regulate and stabilize food prices.
President Tinubu emphasized that the primary objectives of these initiatives are to reduce food costs, promote agricultural development, and generate employment opportunities.
In a post on his Twitter handle, President Tinubu said that the “new initiatives will tackle rising food costs, enhance agriculture, and boost job creation”.
“No-one will be left behind in our efforts to ensure affordable, plentiful food for every Nigerian,” he tweeted.
6. Creation of a National Commodity Board to review food prices and maintain a strategic food reserve.
— Bola Ahmed Tinubu (@officialABAT) July 13, 2023
7. Engagement of security architecture to protect farms and farmers.
8. Role of the Central Bank in funding the agricultural value chain.
9. Activation of land banks and…
A former governor from northern Nigeria recently voiced concerns about the country potentially facing a food crisis as a result of the ongoing banditry in the region.
The International Monetary Fund (IMF) has also issued a warning about the potential rise in food prices and associated risks due to factors such as floods and the high cost of fertilizers.
These developments highlight the growing apprehension regarding Nigeria’s food security and the need for concerted efforts to address the challenges posed by insecurity, natural disasters, and the affordability of agricultural inputs.