President Bola Tinubu has announced a state of emergency on food security in Nigeria, directing that all matters related to food and water availability and affordability be placed under the purview of the National Security Council. The declaration aims to address the rising cost of food and ensure support for the most vulnerable citizens.
According to presidential spokesman Dele Alake, the President is aware of the impact of high food prices on the people and has directed immediate actions to mitigate the effects of subsidy removal. This includes the release of fertilizers and grains to farmers and households. The President also emphasized the need for collaboration between the Ministry of Agriculture and the Ministry of Water Resources to ensure adequate irrigation and year-round food production.
To address price fluctuations, President Tinubu announced the establishment of a National Commodity Board that will monitor and assess food prices. The board will also maintain a strategic food reserve to stabilize prices of critical grains and other food items. Stakeholders such as the National Commodity Exchange, seed companies, research institutes, and agricultural associations will be involved in these efforts.
In addition, the President emphasized the importance of protecting farmers and farmlands, and the engagement of the security architecture to ensure their safety. The Central Bank of Nigeria will continue to fund the agricultural value chain, and measures will be taken to increase the availability of arable land for farming.
President Tinubu also expressed the intention to boost revenue from food and agricultural exports, highlighting the significance of the sector for the country’s economy.
