• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, May 29, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Agriculture

Nigeria rolls out measures to tackle rising food prices

Food

The Matters Press by The Matters Press
July 13, 2023
Reading Time: 8 mins read
0
Food shortage: Nigeria bans foreigners from direct purchase of produce from farmers

Abuja, July 13, 2023: President Bola Tinubu has ordered immediate action to stem rising food prices and ensure sustainable food security in the country.

RELATED POSTS

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

At a briefing on Thursday in Abuja by Mr Dele Alake, Presidential Adviser on Special Duties, Communications and Strategy, Tinubu said the interventions were meant to have immediate impact on the most vulnerable Nigerians.

“As a hands-on- leader who follows developments across the country everyday, Mr. President is not unmindful of the rising cost of food and how it affects the citizens. While availability is not a problem, affordability has been a major issue to many Nigerians in all parts of the country.

“This has led to a significant drop in demand thereby undermining the viability of the entire agriculture and food value chain.”

To contain this trend, the President announced the declaration of a state of emergency on food security, and other measures.

He said all matters pertaining to food and water availability and affordability, now fall within the purview of the National Security Council.

The president said other iniiatives would be deployed in the coming weeks to reverse the inflationary trend and guarantee future uninterrupted supplies of affordable foods to ordinary Nigerians.

“As with most emergencies, there are immediate, medium- and long-term interventions and solutions.

“In the immediate term, we intend to deploy some savings from the fuel subsidy removal into the Agricultural sector focusing on revamping the agricultural sector.”

He said that a Memorandum of Partnership between the government and agricultural stakeholders had been drafted, containing decisions taken and proposed actions.

“We will immediately release fertilizers and grains to farmers and households to mitigate the effects of the subsidy removal.

“There must be an urgent synergy between the Ministry of Agriculture and the Ministry of Water Resources to ensure adequate irrigation of farmlands and to guarantee that food is produced all-year round.”

He said that the country could no longer rely on seasonal farming for affordable food items.

“We shall create and support a National Commodity Board that will review and continuously assess food prices as well as maintain a strategic food reserve that will be used as a price stabilisation mechanism for critical grains and other food items.

“Through this board, government will moderate spikes and dips in food prices.”

The president added that to achieve these objectives stakeholders have been drafted to support the interventions.

The stakeholders include National Commodity Exchange, Seed Companies, National Seed Council and Research institutes and NIRSAL Microfinance Bank.

Others are, Food Processing/ Agric Processing associations, private sector holders and Prime Anchors, smallholder farmers, crop associations and fertilizer producers, blenders and suppliers associations.

“In furtherance of this, the federal government would engage security architecture to protect the farms and the farmers so that farmers can return to the farmlands without fear of attacks.

“The Central Bank will continue to play a major role of funding the agricultural value chain.”

Tinubu said that the government would activate its land banks to enable more Nigerians return to farming.

“There is currently 500,000 hectares of already mapped land that will be used to increase availability of arable land for farming which will immediately impact food output.”

He added that the “government will also collaborate with mechanization companies to clear more forests and make them available for farming

“There are currently 11 rivers basins that will ensure planting of crops during the dry season with irrigation schemes that will guarantee continuous farming production all year round, to stem the seasonal glut and scarcity that we usually experience.

“We will deploy concessionary capital/funding to the sector especially towards fertilizer, processing, mechanization, seeds, chemicals, equipment, feed, labour, etc.

“The concessionary funds will ensure food is always available and affordable thereby having a direct impact on Nigeria’s Human Capital Index (HCI).

“This administration is focused on ensuring the HCI numbers, which currently ranks as the 3rd lowest in the world, are improved for increased productivity.”

The President further said that the government would explore other means of transportation including rail and water transport, to reduce freight cost, thereby impacting food prices.

“The cost of transporting Agricultural products has been a major challenge due to permits, toll gates, and other associated costs.

“When the costs of moving farm produce is significantly impacted, it will immediately be passed to the consumers, which will affect the price of food.”

He added that existing warehouses and tanks would be revamped to cut waste and ensure efficient preservation of food items.

Tinubu also pledged to increase revenue from food and agricultural exports.

“As we ensure there is sufficient, affordable food for the populace, we will concurrently work on stimulating the export capacity of the Agric sector.”

He said to enhance trade facilitation, transportation, storage and export will be improved by working with the Nigeria Customs Service.

According to him, the customs service has assured the government that the bottlenecks being experienced in exporting and importing food items as well as intra-city transportation through tolling will be removed.

The President stressed that the measures would bring about positive outcomes through massive boost in employment and job creation.

“Indeed, agriculture already accounts for about 35.21 per cent of employment in Nigeria (as at 2021), the target is to double this percentage to about 70 per cent in the long term.”

He said that this would be in line with his pledge to create jobs, as the initiative is expected to achieve between five to 10 million more jobs created within the value chain.

The jobs he said would come through working with the current 500,000 hectares of arable land and the several hundreds of thousands more farmlands to be developed in the medium term.

The president therefore called on all Nigerians to partner with the government to ensure the success of tthe trategic intervention.

“This administration is working assiduously to ensure that Nigerians do not struggle with their essential needs,” he added.

Tinubu assured Nigerians that the administration would not relent in its efforts “until all strategic interventions are deployed efficiently and effectively and until every household is positively impacted”.

PRESIDENTIAL INTERVENTION ON FOOD SECURITY, FOOD PRICING & SUSTAINABILITY

13th July 2023

TEXT OF MEDIA BRIEFING BY MR. DELE ALAKE, SPECIAL ADVISER TO THE PRESIDENT ON SPECIAL DUTIES, COMMUNICATIONS AND STRATEGY ON THE DETAILS OF PRESIDENTIAL INTERVENTION ON FOOD SECURITY, FOOD PRICING & SUSTAINABILITY ON THURSDAY, JULY 13, 2023

Gentlemen of the press, i welcome you once again to this press conference to update the public on President Bola Tinubu-led administration’s immediate response to the current food inflation in the country.

As a hands-on- leader who follows developments across the country everyday, Mr. President is not unmindful of the rising cost of food and how it affects the citizens. While availability is not a problem, affordability has been a major issue to many Nigerians in all parts of the country. This has led a significant drop in demand thereby undermining the viability of the entire agriculture and food value chain.

Accordingly, in line with this administration’s position on ensuring that the most vulnerable are supported, Mr. President has declared, with immediate effect the following actions:

• That a state of emergency on food security be announced immediately, and

• That all matters pertaining to food & water availability and affordability, as essential livelihood items, be included within the purview of the National Security Council.

As a direct and immediate response to this crisis, a number of initiatives will be deployed in the coming weeks to reverse this inflationary trend and guarantee future uninterrupted supplies of affordable foods to ordinary Nigerians.

As with most emergencies, there are immediate, medium- and long-term interventions and solutions.

In the immediate term, we intend to deploy some savings from the fuel subsidy removal into the Agricultural sector focusing on revamping the agricultural sector.

In an earlier meeting with Agriculture Stakeholders (today), we drafted a memorandum of partnership between the government and the individual stakeholder representatives that encompasses the decisions taken and actions proposed from our engagements.

The immediate intervention strategies are as follows:

1. We will immediately release fertilizers and grains to farmers and households to mitigate the effects of the subsidy removal.

2. There must be an urgent synergy between the Ministry of Agriculture and the Ministry of Water Resources to ensure adequate irrigation of farmlands and to guarantee that food is produced all-year round.

As a country, Mr. President has made it clear that we can no be comfortable with seasonal farming. We can no longer afford to have farming down times.

3. We shall create and support a National Commodity Board that will review and continuously assess food prices as well as maintain a strategic food reserve that will be used as a price stabilisation mechanism for critical grains and other food items.
Through this board, government will moderate spikes and dips in food prices.
To achieve this, we have the following stakeholders on board to support the intervention effort of President Bola Ahmed Tinubu: The National Commodity Exchange (NCX), Seed Companies, National Seed Council and Research institutes, NIRSAL Microfinance Bank, Food Processing/ Agric Processing associations, private sector holders & Prime Anchors, small holder farmers, crop associations and Fertilizer producers, blenders and suppliers associations to mention a few.

4. We will engage our security architecture to protect the farms and the farmers so that farmers can return to the farmlands without fear of attacks.

5. The Central Bank will continue to play a major role of funding the agricultural value chain.

6. Activation of land banks. There is currently 500,000 hectares of already mapped land that will be used to increase availability of arable land for farming which will immediately impact food output.

– Mechanization and land clearing- The government will also collaborate with mechanization companies to clear more forests & make them available for farming

7. River basins- there are currently 11 rivers basins that will ensure planting of crops during the dry season with irrigation schemes that will guarantee continuous farming production all year round, to stem the seasonal glut and scarcity that we usually experience.

8. We will deploy concessionary capital/funding to the sector especially towards fertilizer, processing, mechanization, seeds, chemicals, equipment, feed, labour, etc.
The concessionary funds will ensure food is always available and affordable thereby having a direct impact on Nigeria’s Human Capital Index (HCI). This administration is focused on ensuring the HCI numbers, which currently ranks as the 3rd lowest in the world, are improved for increased productivity.

9. Transportation and Storage: The cost of transporting Agricultural products has been a major challenge (due to permits, toll gates, and other associated costs). When the costs of moving farm produce is significantly impacted- it will immediately be passed to the consumers, which will affect the price of food- the government will explore other means of transportation including rail and water transport, to reduce freight costs and in turn impact the food prices.

As for storage, existing warehouses and tanks will be revamped to cut waste & ensure efficient preservation of food items.

10. We will Increase revenue from food and agricultural exports. As we ensure there is sufficient, affordable food for the populace, we will concurrently work on stimulating the export capacity of the Agric sector.

11. Trade Facilitation: Transportation, storage and export will be improved by working with the Nigerian Customs, who have assured us that the bottlenecks experienced in exporting and importing food items as well as intra-city transportation through tolling will be removed.

These are some of the immediate interventions this government will put in place to tackle this crisis.
Principally, one of the major positive outcomes of these interventions will be a massive boost in employment and job creation.

Indeed, agriculture already accounts for about 35.21 percent of employment in Nigeria (as at 2021), the target is to double this percentage to about 70% in the long term.

President Bola Ahmed Tinubu’s mandate to create jobs for our teeming youth population will be achieved with between 5 to 10 million more jobs created within the value chain, working with the current 500,000 hectares of arable land and the several hundreds of thousands more farmlands to be developed in the medium term.

In closing, this administration understands that food and water are the bedrock of survival and therefore is calling on all Nigerians to partner us in ensuring the success of this strategic intervention. This administration is working assiduously to ensure that Nigerians do not struggle with their essential needs.

President Bola Ahmed Tinubu wishes to use this medium to continue to assure Nigerians that this administration will not relent in its efforts until all strategic interventions are deployed efficiently and effectively and until every household is positively impacted. Our president is the president of all Nigerians and the father of the nation. The renewed hope mandate remains alive and no one, absolutely no one, will be left behind.

I thank you all.

Tags: food
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Court visits Patience Jonathan’s money palaver
Economy/Technology

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

May 20, 2025
Nigeria suspends mining in Zamfara
Economy/Technology

Revival of mining sector causes increase in licensing fees in Nigeria

May 19, 2025
Next Post
Infrastructure gulp N2,7tn in Nigeria

Nigeria commits to infrastructure improvement through PPP

Free public transportation for retirees begins in Lagos

Why we staggered pension online verification - PTAD

Recommended Stories

Nigeria’s non-oil revenue grew above target by 15.7%

FG tasks FRC on prompt remittance of revenues by MDAs

July 16, 2023
Nigeria disburses N56bn to MSMEs

MSME operators seek solutions to rising cost of goods, services

August 13, 2022
65% of alcohol manufacturers not registered

65% of alcohol manufacturers not registered

March 18, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms
  • Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG
  • Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us