Vice President Kashim Shettima, revealed Tuesday in Abuja that the Federal government will set up a National Commodity Board in bid to tackle rising cost of food items.
This is coming on the heels of escalating food prices. A 50kg bag of rice is going for as much as N70,000 and Garri N40, 000 in major markets across the country.
Mr. Shettima said the number one target was to boost food production, while the commodity board will aim to regulate food prices.
“Our solution to the potential food crisis has become immediate, medium, and long-term strategies.
“The short-term strategy entails revitalizing food supply through specific interventions like the distribution of fertilizers and grains to farmers and households to cushion the effects of subsidy removal.
also entails fostering collaboration between the Ministries of Agriculture and Water Resources for efficient farmland irrigation, ensuring year-round food production; and addressing price volatility by establishing a National Commodity Board.
“This board will continually assess and regulate food prices, maintaining a strategic food reserve for stabilizing prices of crucial grains and other food items.”
