President Bola Tinubu gave all state governors seven days to provide concrete feedback on their plans to enhance food production within their respective states.
The directive was given during the 142nd National Economic Council (NEC) meeting, held at the State House in Abuja, and attended by state governors and some deputies.
President Tinubu also unveiled a comprehensive National Construction and Household Support Programme. This initiative includes a N50,000 grant for three months to 100,000 families in each state, N155 billion allocated for assorted food supplies, and N540 billion for household grants. Additionally, each of the 36 states and the Federal Capital Territory (FCT) will receive N10 billion for the procurement of CNG buses.
The N50,000 grant, planned for 3.7 million families across the 36 states and the FCT, along with the N10 billion allocation for CNG buses and the N155 billion expenditure on assorted foods, amounts to an estimated cost of over N1 trillion.
Emphasizing the urgency of increasing food production, the President urged state governors to collaborate to meet citizens’ needs, expressing his readiness to provide the necessary support to alleviate hardship in Nigeria.
“We must deliver on our targets at all levels. Please report back following your consultations and submit your plans to my office within seven days. How much support do you need from me and in what form? I am prepared to provide it. But we must achieve the results. There is nothing we are doing that is more important than producing high-quality food for our people to consume, buy, and sell. We create jobs in the production of it, and before we generate wealth by exporting the excess. It is not beyond us to achieve this for Nigerians,” he declared.
President Tinubu’s comments come amid multiple economic challenges facing the country, including high inflation driven by the removal of fuel subsidies and exchange rate depreciation, which reached 27 percent year-on-year in October 2023. This price surge, coupled with severe food insecurity, has exacerbated the cost-of-living crisis, making it difficult for Nigerians to afford basic necessities.
Despite implementing significant policy reforms such as fuel subsidy removal and exchange rate unification, challenges related to poverty, stalled per-capita growth, and a weak business environment persist. These issues are further compounded by external pressures, including global food price surges and geopolitical uncertainties.
During Thursday’s NEC meeting, President Tinubu announced new plans to boost agricultural productivity, strengthen the economy by creating opportunities in agriculture, manufacturing, and construction, and provide immediate economic relief to Nigerians.
The immediate rollout of the National Construction and Household Support Programme aims to cover all geopolitical zones in the country. A key project under this program is the prioritization of the Sokoto-Badagry Highway, which will traverse Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, according to a statement signed by the President’s Special Adviser on Media and Publicity, Mr. Ajuri Ngelale.
This initiative highlights the government’s commitment to addressing economic challenges and fostering sustainable development across Nigeria.