Breaking News: Federal Government Planning To Regulate Food Price in Nigeria | Check Post For More Details
Wednesday 14 February 2024
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In a significant development to tackle rising food inflation, the Federal Government of Nigeria has revealed plans to institute a National Commodity Board. Vice President Kashim Shettima disclosed this initiative during a crucial two-day summit in Abuja that centered on climate change, food systems, and resource mobilization.
The National Commodity Board is set to play a pivotal role in evaluating and overseeing food prices, alongside managing strategic reserves of essential grains and food items. This announcement underscores the government's dedication to mitigating the consequences of climate change and ensuring food security for all Nigerians. CONTINUE READING.....
Vice President Shettima stressed that food security stands out among the top priorities outlined in President Bola Tinubu's Renewed Hope Agenda, leading to the declaration of a state of emergency on food security. The administration is implementing a spectrum of immediate, medium, and long-term strategies to address the impending food crisis.
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Immediate measures involve targeted interventions such as distributing fertilizers and grains to farmers and households to counter the effects of subsidy removal. Furthermore, the government is fostering collaboration between the Ministries of Agriculture and Water Resources to enhance farmland irrigation, ensuring year-round food production and curbing price fluctuations. CONTINUE READING.....
The National Commodity Board is poised to be a crucial mechanism for evaluating and overseeing food prices, aiming to bring stability to the market. Vice President Shettima reaffirmed the administration's unwavering commitment to restoring degraded lands and investing in sustainable agricultural practices to safeguard the nation's food security.
As Nigeria grapples with the challenges of food insecurity, the establishment of the National Commodity Board signifies a substantial step towards achieving resilience and stability in the food supply chain. Stay tuned for more details on this breaking news.
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