In a decisive response to the growing concern of food inflation in Nigeria, the Federal Government announced plans on Tuesday to establish a National Commodity Board. This strategic move aims to tackle price volatility and ensure a stable supply of essential food items through regulated pricing and the maintenance of a strategic food reserve.
According to a report by This Day Live, Vice-President Kashim Shettima unveiled the initiative during a two-day strategic meeting on climate change, food systems, and resource mobilization held in Abuja. The meeting, which focuses on enhancing climate resilience and securing food supplies for Nigerians, underscores the country’s commitment to combating the impacts of climate change on food production.
In his address, Shettima emphasized that the establishment of the National Commodity Board is part of a broader strategy to revitalize the nation’s food supply chain. This includes distributing essential agricultural inputs to farmers, optimizing irrigation practices for year-round food production, and leveraging a strategic food reserve to stabilize market prices.
Highlighting the importance of this initiative, Shettima also pointed to the Tinubu administration’s ongoing efforts to restore degraded lands and improve security measures for farmers, enabling them to return to their farms without fear of attacks. These efforts are complemented by plans to expand arable land through land banks and collaborations with mechanization companies, alongside the Central Bank of Nigeria’s continued financial support for the agricultural sector.
The vice-president’s speech further outlined the government’s ambition to significantly boost employment within the agriculture value chain, aiming to create millions of jobs for the youth and enhance Nigeria’s Human Capital Index (HCI). These measures are integral to achieving the United Nations Agenda 2030’s goal of zero hunger and the African Union Agenda 2063’s vision of transforming Africa into a global powerhouse.
The event also saw contributions from key stakeholders, including the National Coordinator of NEPAD, Mrs. Gloria Akobundu, and the AU Chairman of Food System, Dr. Ibrahim Maiyaki, who both praised the administration’s efforts and called for enhanced collaboration and resource mobilization to support smallholder farmers.
This comprehensive approach marks a significant milestone in Nigeria’s journey towards achieving food security, sustainable development, and economic resilience, positioning it as a leader in the fight against food inflation and climate change impacts.
