The government intends to establish a National Commodity Board which will be tasked with assessing and regulating food prices, as well as maintaining a strategic food reserve for stabilizing prices of crucial grains and other food items.
Vice President Kashim Shettima made this known at a two-day, high-level strategic meeting on climate change, food systems, and resource mobilization held in Abuja12. He explained that these measures are part of the government’s efforts at mitigating the effects of climate change and ensuring food security for Nigerians2.
The Vice President also highlighted ongoing policy reforms by the administration to ensure food and water availability and affordability. These include specific interventions like the distribution of fertilizers and grains to farmers and households to cushion the effects of subsidy removal, fostering collaboration between the Ministries of Agriculture and Water Resources for efficient farmland irrigation, and ensuring year-round food production.
Vice President Kashim Shettima made this known at a two-day, high-level strategic meeting on climate change, food systems, and resource mobilization held in Abuja12. He explained that these measures are part of the government’s efforts at mitigating the effects of climate change and ensuring food security for Nigerians2.
The Vice President also highlighted ongoing policy reforms by the administration to ensure food and water availability and affordability. These include specific interventions like the distribution of fertilizers and grains to farmers and households to cushion the effects of subsidy removal, fostering collaboration between the Ministries of Agriculture and Water Resources for efficient farmland irrigation, and ensuring year-round food production.
This move is part of the Renewed Hope Agenda declared by President Bola Tinubu, which led to the declaration of a state of emergency on food security.
The administration is also fully invested in the restoration of degraded land.
A mudu of rice is N2100, flour is N1300, sugar N2600. May God see us through.
ReplyDeleteAmennnn
DeleteThese are old prices. Flour is 1500,sugar is 3200,rice is 2200
DeleteFirst ask for it's cost price from where it is being imported. Nigeria cannot regulate prices of products the country does not produce.
DeleteThis government should not give into these disastrous policies that have been tried all over the world and dumped for record setting failure. It will only lead to hoarding and scarcity. Taking away the incentive to produce or sell also takes away the little production and commerce we are trying to grow. Nigerians did not praise those who subsidized their quality of life for 50 plus years so they won't praise you for clearing the bills that had accrued with huge interest.
Even in Nigeria, Muritala Mohammed went the same way, with soldiers inspecting markets and the rest was that meat was to be imported en mass at some point because that don't chain started to shake. After a while, you needed to be connected to import sugar and the price of local production could not match the imported one leading commercial farmers in the middle belt to experience terrible losses as well as gargantuan debts that holds out many banks with a focus on trade or agri loans.
You don't take rash decisions because you are hungry or people are angry. Doctors and paramedics should not lose their cool in the best of an acute episode when everyone is hysterical. We have already wasted the wealth of the next two decades on borrowing to fuel cars and import toothpicks. We have to face the reality and get over it soonest just as Germany did and Singapore also.
Lol. All talk and no action
ReplyDeleteGood news
ReplyDeleteIt's a great idea but sincerely, this idea is dead on arrival because the so called teams will go into the market to get bribed and let go of offenders.
ReplyDeleteLet's wait and see
U don Sabi Nigeria finish
DeleteIt is a terrible idea to prioritize the stomach of those who benefit from those producing over the stability of those creating the wealth to feed them. It is putting on-site manufacturers at a loss and at some point, even squeezing importers of needed raw materials or vital goods who would have different prices for different types of demand and logistics. It is a terrible idea to legislate scarcity and a black market economy into life by tested and known to fail economic policies.
DeleteIt is unfortunate that Nigeria continues to gain little to nothing for all it has poured into educating it's larger population who will always put their mouths first, choosing to eat their seeds and look over the fence at the produce of others then wonder why they have no bounteous harvest.
What you have not considered is the incentive to produce or employ, and the attendant cost of production once availability is reduced and the economy slows after struggling to recover Tomorrow when the results of institutionalised poverty start to show up as requested and demanded by the participants in a democracy, they will shift blame again like children, saying it was that big man or woman that forced them to vote one way or another since they have no mind of their own.
They should just act on time, please. Enough of all these talks.
ReplyDeletePeople are waiting for results.
ReplyDeleteI saw a video where different kinds of food are kept. The voice at the background is saying big men are buying food stuff in millions and hoarding it to create scarcity. They will bring it out and sell at exorbitant prices. We are just wicked in this country
ReplyDeleteNawa oh hoarding food that can spoil in few months time? How is it possible?
DeleteBuying from where? At what price and exchange rate? What are the importation or manufacturing costs? What is the expiry date of the products? How come another big man has not flooded the market with the same products to undercut them and make an the profit as the market works? How come a big or small criminal has not broken into the storehouse? With increased prices, what happens to demand in an economy with it average rate of earnings? With increased cost of storage, what happens to the profit margin? With the product aging in storage, what happens to product quality and market competitiveness? What happens to goodwill of fellow payers and retailers or middlemen when there is no supply to meet demand and customers are taking their money elsewhere?
DeleteThese are the people wondering why graduates are unemployed or underemployed. Who will bring out 400k a month for this kind of reasoning?
Time wait for No One ooo
ReplyDeleteLet me do am fast fast bikonu
Infact every should be regulated
Food
Pant
Bra
Pure water
Wears
Shoe
Shop
Transportation
E.t.c
They should start from transportation. Most hike in food prices is as a result of high transportation fare.
ReplyDeleteA bag of rice that APC government met at 8k, is now 80k? OMG!!🤯
ReplyDeleteYou never sidon for office, you remove subsidy?
Fuel went from 200 that people are even struggling to cope with to 600 plus? And you want people to survive?
I can't even go to the village market and carry garri now, because after paying all that transportation fees and taxes I can't get my capital back, let alone gain.
Even ordinary pure water now, na case.
You have no business being president of this country. You're so clueless!😳
Do you have any idea why they removed Subsidy tho? Think!!!!!
DeleteKelvin Dat Edo Boi (Stellz Cousin)
Kelvin, ask her to do what she can, stop seeking the impossible.
DeleteStory story, story! Osino renewed hope!
ReplyDeletePlease they should start already.
ReplyDeletewe need action please.
ReplyDeleteThey should start already
ReplyDeleteNice move👍. They should start fast. Cos these sellers are taking advantage of the situation.
ReplyDeleteThey should do something about it very fast.
ReplyDeleteAnother crazy policy by a confused government
ReplyDeleteHmmm it is well
ReplyDeleteThis is a way to go. It will encourage farmers that are about giving up. Let them use pro active measures and not always wait till it gets out of hand .
ReplyDelete