Presidential spokesman Dele Alake, during a briefing with State House correspondents on Thursday, announced that the President has directed the inclusion of food and water availability and affordability within the responsibilities of the National Security Council. This directive is in line with the Tinubu administration’s commitment to supporting the most vulnerable individuals. Alake emphasized that the President is aware of the rising cost of food and its impact on citizens’ finances. Additionally, the President has instructed the immediate release of fertilizers and grains to farmers and households to mitigate the effects of subsidy removal.
The President also stressed the need for collaboration between the Ministry of Agriculture and the Ministry of Water Resources to ensure sufficient irrigation of farmlands and year-round food production. To address fluctuations in food prices, the President proposed the establishment of a National Commodity Board, which will assess and monitor food prices and maintain a strategic food reserve to stabilize prices. Various stakeholders, such as the National Commodity Exchange, seed companies, research institutes, and financial institutions, will support the President’s intervention efforts.
Furthermore, the President highlighted the importance of protecting farms and farmers through the engagement of the security architecture. The Central Bank of Nigeria will continue to play a role in funding the agricultural value chain. The President also mentioned that 500,000 hectares of land have been mapped to increase the availability of arable land for farming. Lastly, the administration aims to boost revenue from food and agricultural exports.