How I’ll solve rising food prices – By President Tinubu
Today, we declared a state of emergency and unveiled a comprehensive intervention plan on food security, affordability, and sustainability, taking decisive action to tackle food inflation. These are steps towards a more food secure Nigeria for all.
Our new initiatives will tackle rising food costs, enhance agriculture, and boost job creation. No one will be left behind in our efforts to ensure affordable, plentiful food for every Nigerian
We acknowledge that affordability, not availability, is the key issue for Nigerians and recognize the impact of high food prices on demand and the overall agriculture and food value chain.
1. Inclusion of food and water availability and affordability issues within the purview of the National Security Council.
2. Deployment of initiatives to reverse inflationary trend and ensure future supplies of affordable foods.
3. Short-term strategy to use savings from fuel subsidy removal to revamp the agricultural sector.
4. Release of fertilizers and grains to farmers and households (free) as immediate intervention.
5. Urgent synergy between the Ministry of Agriculture and Ministry of Water Resources to ensure adequate irrigation and all-year round farming.
6. Creation of a National Commodity Board to review food prices and maintain a strategic food reserve.
7. Engagement of security architecture to protect farms and farmers.
8. Role of the Central Bank in funding the agricultural value chain.
9. Activation of land banks and increase of available arable land for farming.
10. Collaboration with mechanization companies to clear more forests and make them available for farming.
11. Usage of river basins for irrigation to ensure continuous farming.
12. Deployment of concessionary capital/funding to the sector especially towards fertilizer, processing, mechanization, seeds, chemicals, equipment, feed, labor, etc.
13. Improvement of transportation and storage methods for agricultural products to reduce costs and food prices.
14. Increase in revenue from food and agricultural exports.
15. Improvement of trade facilitation by working with the Nigerian Customs to remove bottlenecks.
16. Massive boost in employment and job creation in the agricultural sector.
17. Target to double the percentage of employment in agriculture to about 70% in the long term.
My administration remains committed to ensuring every Nigerian has access to affordable food.
