See The Palliatives Tinubu Rolled Out (PHOTOS)

See The Palliatives Tinubu Rolled Out (PHOTOS)

President Bola Tinubu has taken immediate action to address rising food prices and secure sustainable food security in the country. According to Mr. Dele Alake, the Presidential Adviser on Special Duties, Communications, and Strategy, this was announced during a briefing in Abuja on Thursday. The President’s interventions aim to have an immediate impact on the most vulnerable Nigerians.

Alake emphasized that President Tinubu is aware of the increasing cost of food and its impact on citizens, stating that while food availability is not an issue, affordability is a major concern for many Nigerians across the country. This situation has led to a significant decrease in demand, undermining the viability of the entire agriculture and food value chain.

To address this issue, President Tinubu declared a state of emergency on food security and implemented other measures. Matters relating to food and water availability and affordability now fall under the purview of the National Security Council. Additional initiatives will be implemented in the coming weeks to reverse the inflationary trend and ensure uninterrupted supplies of affordable food for ordinary Nigerians.

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Immediate, medium-term, and long-term interventions and solutions are being planned. In the short term, savings from the removal of fuel subsidies will be allocated to revamp the agricultural sector. Fertilizers and grains will be immediately released to farmers and households to mitigate the effects of subsidy removal. There will be close collaboration between the Ministry of Agriculture and the Ministry of Water Resources to ensure adequate irrigation and year-round food production. The reliance on seasonal farming for affordable food items will be reduced.

A National Commodity Board will be created and supported to review and continuously assess food prices. It will also maintain a strategic food reserve that can be used as a price stabilisation mechanism for critical grains and other food items. The government aims to moderate fluctuations in food prices through this board. Various stakeholders, including agricultural institutions, seed companies, and microfinance banks, have been enlisted to support these interventions.

Furthermore, the government will engage security forces to protect farms and farmers, ensuring their safety while they work. The Central Bank will continue to play a significant role in funding the agricultural value chain. Land banks will be activated to enable more Nigerians to return to farming, with already mapped land covering 500,000 hectares available for increased food production. Mechanization companies will be engaged to clear forests for farming purposes, and irrigation schemes in 11 river basins will enable year-round crop planting to address seasonal fluctuations.

Concessionary capital and funding will be provided to the agricultural sector, focusing on fertilizer, processing, mechanization, seeds, chemicals, equipment, feed, and labor. This will ensure the availability and affordability of food, leading to improved productivity and Nigeria’s Human Capital Index. Transportation costs will be reduced by exploring alternative means such as rail and water transport. Existing warehouses and tanks will be upgraded to minimize waste and improve food preservation. Additionally, efforts will be made to increase revenue from food and agricultural exports by enhancing trade facilitation, transportation, storage, and export processes.

President Tinubu emphasized that these measures would have positive outcomes, including a significant boost in employment and job creation. Agriculture already accounts for about 35.21% of employment in Nigeria, and the government aims to double this percentage to around 70% in the long term. Through the utilization of arable land and the development of more farmlands, the value chain is expected to create between five to ten million additional jobs.

The President called on all Nigerians to collaborate with the government to ensure the success of these strategic interventions. The administration is dedicated to meeting the essential needs of Nigerians and will continue its efforts until all interventions are efficiently deployed and every household is positively impacted.

See the Palliatives Summary document below: