The Federal Government has revealed intentions to institute a National Commodity Board as part of its stratagem to counter the escalating food inflation in Nigeria. Vice President Kashim Shettima disclosed this during a two-day high-level strategic assembly on climate change, food systems, and resource mobilization at the Banquet Hall of the Presidential Villa, Abuja.
In his discourse, titled “Climate Resilience and Food Security: Nigeria’s Vision for the Future,” Shettima emphasized Nigeria’s resolve to mitigate the ramifications of climate change and ensure food security for its populace. He stressed that food security was among the eight priority areas delineated by President Bola Ahmed Tinubu under the Renewed Hope Agenda.
Shettima underscored ongoing policy overhauls aimed at guaranteeing food and water accessibility, alongside affordability. He unveiled intentions to establish a National Commodity Board entrusted with scrutinizing and overseeing food prices, as well as maintaining a strategic food stockpile to stabilize prices of vital grains and other foodstuffs.
Beyond policy endeavors, the government aims to rehabilitate degraded lands as part of its contribution to the AFR100 Initiative. Shettima affirmed that security personnel would be dispatched to safeguard farmers and activate more arable lands to amplify food production and ensure the security of agricultural pursuits.
Furthermore, the government intends to collaborate with mechanization enterprises to clear additional forests for agricultural purposes. The Central Bank of Nigeria will persist in its pivotal role in financing the agricultural value chain, furnishing concessional capital to bolster fertilizer, processing, mechanization, and other agricultural undertakings.
Initiatives are in motion to render agriculture more enticing to the youthful demographic, with the objective of generating between 5 to 10 million jobs within the agricultural value chain. These initiatives align with the UN-Agenda 2030 on Sustainable Development Goals and the African Union Agenda 2063, which aim to attain zero hunger and metamorphose Africa into a global force.
The high-level colloquium convened stakeholders, encompassing development allies, private investors, and the diplomatic corps, to grapple with food security predicaments. National Coordinator of NEPAD, Mrs. Gloria Akobundu, lauded President Tinubu’s dedication to nation-building and underscored the exigency of action in addressing the food crisis.
AU Chairman of Food System, Dr. Ibrahim Maiyaki, accentuated the significance of regional amalgamation and augmenting productivity to confront Africa’s food security dilemmas. The gathering was attended by dignitaries, including senators and representatives of various state governments, evidencing a concerted endeavor to tackle food security challenges in Nigeria and Africa.
