President Bola Tinubu has firmly rejected the establishment of a price control board for food commodities in Nigeria. Speaking at a high-level meeting with 36 state governors, attended by key government officials, Tinubu emphasized the need for home-grown solutions to boost food production and alleviate the challenges of escalating food inflation.
Tinubu’s stance comes in response to recent discussions regarding the establishment of a National Commodity Board to regulate food prices, as suggested by Vice President Kashim Shettima. However, Tinubu reiterated his administration’s commitment to fostering local production and discouraging dependence on food imports, signaling a departure from proposed interventionist measures.
Addressing concerns over security and food availability, Tinubu approved the formation of a committee comprising state governors and federal representatives to explore the feasibility of establishing state police. This move underscores the administration’s determination to address security challenges and prevent activities such as hoarding and speculation that exacerbate food scarcity.
Expressing concerns over reports of food hoarding in warehouses, Tinubu called for coordinated efforts by security agencies to inspect and take action against speculators and rent seekers. He underscored the importance of empowering farmers and implementing livestock development plans to increase food production domestically.
In a bid to enhance forest protection and resource management, Tinubu endorsed the training and equipping of forest rangers by sub-national governments. Additionally, he urged governors to trust designated institutions such as the Central Bank of Nigeria to manage monetary policy effectively, calling for a unified approach to address challenges in the foreign exchange market.
Amidst discussions on addressing insecurity, food security, and education, Tinubu emphasized the collective responsibility of all stakeholders to prioritize the welfare and prosperity of Nigerians. He assured governors of the federal government’s commitment to improving the nation’s revenue profile and urged cooperation in tackling pressing national issues.
The meeting highlighted the importance of collaborative efforts between the federal and state governments in tackling critical challenges facing the country, including insecurity and food scarcity. Tinubu’s rejection of a price control board reflects a broader strategy focused on promoting local solutions and empowering domestic producers to address the country’s food crisis effectively.