The National Commodity Board will be established by the Federal Government in an effort to combat the nation’s rising food inflation.
The government views this initiative as critical in the face of rising food prices and aims to ensure food security for Nigerians. Vice President Kashim Shettima revealed this during a two-day strategic meeting on climate change, food systems, and resource mobilization in Abuja. Shettima outlined that the board’s mandate would include assessing and regulating food prices, along with maintaining a strategic food reserve to stabilize the prices of essential grains and other food items. A state of emergency on food security was declared as a result of President Bola Tinubu’s declaration of food security as one of the eight priority areas in his Renewed Hope Agenda.
Shettima highlighted ongoing policy reforms aimed at ensuring the availability and affordability of food and water, aligning with the immediate, medium, and long-term strategies to address potential food crises.
The short-term strategy involves interventions such as distributing fertilizers and grains to farmers and households, supporting efficient farmland irrigation through collaboration between the Ministries of Agriculture and Water Resources, and establishing a National Commodity Board to address price volatility.
Shettima assured that the administration is fully committed to restoring degraded land, reflecting the government’s comprehensive approach to tackling food security
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