Presidency details how Buhari is beating food insecurity in Nigeria

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available for all.

President Muhammadu Buhari has expressed the concern of his administration about the sudden spiral of food prices, at a time when the economy is already mired in a slowdown occasioned by the global coronavirus situation.

The President assures Nigerians that the situation is transient. His administration has already begun looking and putting in place measures to ameliorate the situation.

While Providence has been kind to us with the rains and as such an expectation that a bumper harvest would lead to crashing of food prices and ease the burdens on the population, government’s concern is that the exploitative market behaviour by actors has significantly increased among traders in the past few years and may make any such relief a short lived one.

[read_more id="2" more="Read full article" less="Read less"]

This year has indeed tested us in ways that globalization has never been tested since the turn of the century. These challenges have disrupted lives and supply chains all over the world, and Nigeria has not been spared.

The effect has been deeply felt in the delays encountered in procurement of raw materials for local production of fertilizer (damaging standing crops before harvest) and the speculative activities by a number of rice processors who are ready to pay for paddy at any price to keep their mills running non-stop.

But of all these problems, the most worrisome are the activities of “corrupt” middlemen (with many of them discovered to be foreigners) and other food traders who serve as the link between farmers and consumers found to be systematically creating an artificial scarcity so that they can sell at higher prices.

In dealing with these problems, the administration has, in line with its ease of doing business mantra, avoided imposing stockholding restrictions, in order not to discourage investments in modern warehousing and cold storage.

The President has just approved the release of food items from the strategic reserves, including 30,000 tons of maize to animal feeds producers to ease the high cost of poultry production.

President Buhari’s administration has raised some of these issues with the various food producer associations involved, particularly those of rice and other grains.

With their cooperation, the high food prices should soon be a thing of the past.

In addition, investments in the agro-allied sector by the private sector will significantly increase domestic production of farming inputs especially fertilizer, further crash prices, create employment and ease the pressure on our foreign reserves.

One of these major investments is the Dangote Fertilizer plant which is projected to come on stream by the 4th quarter of 2020.

Additionally, key government agencies and policymakers with the responsibility and visibility on market activities remain focused on removing structural impediments to the production and free movement of agricultural products.

President Buhari once again assures Nigerians of his dedication to bringing this issue to a swift end.

Nigerians have already suffered grave economic losses owing to the coronavirus pandemic, and the Buhari administration will do all in its power to ensure that our people do not continue to suffer additionally from high food prices.

[/read_more]

Garba Shehu
Garba Shehu
Malam Garba Shehu is the Senior Special Assistant, Media and Publicity, to Nigerian President, Muhammadu Buhari. This is an official statement from him. The headline might have been adjusted.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

300,504FansLike
227FollowersFollow
6FollowersFollow
1FollowersFollow
906FollowersFollow
138SubscribersSubscribe

JUST IN

IMF has given $31 billion to 76 countries to respond to COVID-19, including over $10 billion to 47 low income nations

The International Monetary Fund (IMF) has given $31 billion in emergency financing to 76 countries in the world to respond to...

Gunmen ambush convoy of Governor Umar Babagana Zulum of Borno State in Nigeria, kill several people

President Muhammadu Buhari has condemned an ambush on Friday on the entourage of Governor Umar Babagana Zulum of Borno State, which...

Central African Republic President Faustin Archange Touadéra announces candidacy for December election

Central African Republic President Faustin Archange Touadéra has announced his candidacy for the presidential election next December.“It’s...

Mali’s new president, 70-year old former defense minister Bah Ndaw, sworn in following coup

Newly sworn in Mali's president is 70-year old former defense minister Bah Ndaw. President Ndaw was inaugurated on Friday, five weeks...

More than 300,000 used condoms being packed for resale intercepted by police

More than 300,000 used condoms which were being packed for resale have been seized during a police raid in Vietnam, Reuters...

MOST POPULAR

Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

Bill Gates praises Africa’s response to COVID-19 but warns against collateral damage

Microsoft founder Bill Gates on Sunday praised Africa's response to the novel coronavirus but warned against collateral damage, including a drastic...

Activists warn Nigerian President bill will render anti-corruption agency EFCC ‘a toothless bulldog’

Nigeria's Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him to “urgently instruct Mr...

Ramphosa urges world leaders to fight racism, grant Africa more Security Council seats, lift sanctions against Zimbabwe and Sudan and cancel continent’s interests on debt

African Union Chairperson, the President of South Africa, Cyril Ramaphosa, on Tuesday, urged the United Nations General Assembly to fight racism,...

Gunmen ambush convoy of Governor Umar Babagana Zulum of Borno State in Nigeria, kill several people

President Muhammadu Buhari has condemned an ambush on Friday on the entourage of Governor Umar Babagana Zulum of Borno State, which led to the death of security men and some operatives of Civilian-JTF.The President described the attack, on Maiduguri-Baga route, as an orchestrated sabotage against long planned return of displaced persons to their local communities.

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

Share
WhatsApp
Reddit
Tweet
Share