In response to the mounting concern over skyrocketing food prices, the Nigerian government has announced plans to establish a National Commodity Board aimed at regulating food prices and maintaining strategic reserves of essential grains and food items.
Vice President Kashim Shettima revealed this development during a two-day high-level strategic meeting on climate change, food systems, and resource mobilization held at the Presidential Villa in Abuja.
Addressing the gathering on the topic of “Climate Resilience and Food Security: Nigeria’s Vision for the Future,” Senator Shettima emphasized the importance of Nigeria’s efforts in mitigating the impact of climate change and ensuring food security for its citizens.
Highlighting the government’s ongoing policy reforms in the agricultural sector, Shettima stressed the need for immediate, medium-term, and long-term strategies to address the potential food crisis. As part of the short-term strategy, he outlined plans to revitalize food supply through interventions such as distributing fertilizers and grains to farmers and households to counteract the effects of subsidy removal. Additionally, he mentioned the establishment of a National Commodity Board tasked with assessing and regulating food prices and maintaining strategic food reserves to stabilize prices.
Shettima reassured stakeholders of the government’s commitment to restoring degraded lands, citing plans to restore four million hectares (approximately 10 million acres) of degraded land within Nigeria’s borders as part of its contribution to the AFR100 Initiative.
Addressing security challenges that have hindered farming activities, Shettima pledged to engage the country’s security architecture to ensure the protection of farmers and farmlands from attacks. He emphasized the importance of creating a conducive environment for farmers to resume their agricultural activities without fear.
The vice president called upon all participants at the event, including development partners, private investors, and the diplomatic community, to work together towards achieving positive outcomes from the high-level engagement.
The proposed establishment of a National Commodity Board signals the government’s proactive approach to addressing food insecurity and rising food prices, demonstrating its commitment to ensuring food affordability and availability for all Nigerians.
