From News Editor
The Federal Government has hinted at plans to establish a National Commodity Board as a solution to the escalating food inflation in the country.
In tackling price volatility, the proposed Board will be given the mandate to assess and regulate food prices, as well as maintain a strategic food reserve for stabilising prices of crucial grains and other food items.
Vice President Kashim Shettima disclosed this on Tuesday during a two-day high-level strategic meeting on climate change, food systems and resource mobilisation held at the Banquet Hall of the Presidential Villa, Abuja.
Delivering his address titled, “Climate Resilience and Food Security: Nigeria’s Vision for the Future,” Senator Shettima in a statement by his spokesman, Stanley Nkwocha, said the two-day event was an attestation of Nigeria’s efforts at mitigating the effects of climate change and ensuring food security for Nigerians.
Recalling that food security is one of the eight areas of priority declared by President Bola Ahmed Tinubu as part of his Renewed Hope Agenda, which led to the declaration of a state of emergency on food security, the VP highlighted ongoing policy reforms by the administration to ensure food and water availability, as well as 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 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. {Leadership}
