President Tinubu Stands Firm: No Price Control Board Amidst Food Crisis
In Brief:
- President Bola Tinubu firmly rejects the establishment of a price control board, emphasizing homegrown solutions to address Nigeria’s food security challenges.
- Tinubu advocates for empowering local farmers, discouraging importation, and implementing initiatives like livestock development to achieve self-sufficiency.
- The President approves a committee to explore the possibility of establishing state police, urging coordinated efforts against practices that undermine food security, while emphasizing trust in the Central Bank for effective monetary policy.
In a pivotal meeting with 36 state governors, President Bola Tinubu made a resolute declaration, firmly rejecting the notion of establishing a price control board to regulate food prices in Nigeria.
This bold stance comes at a time when Vice President Kashim Shettima hinted at plans for a National Commodity Board to address the escalating issue of food inflation in the country.
President Tinubu underscored his commitment to homegrown solutions for the prevailing food security challenges, emphasizing,
“What I will not do is to set a price control board. I will not also approve the importation of food.”
Instead, his administration is dedicated to implementing schemes that support local production, discourage rent-seeking associated with food importation, and ultimately enhance the nation’s food security.
Nurturing Local Solutions for Food Security
Tinubu expounded on his administration’s strategy, shedding light on the paramount importance of supporting local farmers to bolster food production and diminish reliance on imports.
The President emphasized the need for evolving solutions tailored to the Nigerian context, addressing the root causes of the ongoing food crisis.
Rejecting the idea of a price control board, Tinubu expressed profound concerns about potential fraud and mismanagement associated with importation.
He stressed the urgency of empowering local farmers and outlined plans for livestock development, dairy farming, and other initiatives aimed at fostering self-sufficiency.
Fortifying Security Measures and Considering State Police
In response to looming security concerns, President Tinubu approved the establishment of a committee, comprising state governors and federal representatives.
The committee is tasked with exploring modalities for establishing state police, a move aimed at enhancing localized security measures.
Tinubu urged coordinated efforts to inspect warehouses, preventing speculators, hoarders, and rent-seekers from sabotaging the wide availability of food to all Nigerians.
“We must ensure that speculators, hoarders, and rent-seekers are not allowed to sabotage our efforts in ensuring the wide availability of food to all Nigerians,” asserted Tinubu, underlining the need for a proactive stance against practices detrimental to food security.
Navigating Monetary Policy and Ensuring Foreign Exchange Stability
President Tinubu urged state governors to repose trust in the Central Bank of Nigeria for managing the country’s monetary policy.
He emphasized the significance of allowing designated institutions to fulfill their mandates effectively.
Expressing concerns about the negative impact of diverse opinions on foreign exchange rates, Tinubu advocated for a more focused approach.
In his words,
“Every one of us cannot be an expert. If we have given someone an assignment, let us allow them to do it. If they cannot do it, then we find a way to quickly get them out of the system.”
This call for streamlined decision-making underscores the President’s commitment to ensuring stability and effectiveness in monetary policy.
Fostering Collaboration to Address National Challenges
President Tinubu and the governors jointly emphasized the pivotal role of collaborative efforts in addressing multifaceted challenges.
These challenges include insecurity, food security, and the pressing issue of out-of-school children.
Governor AbdulRahman AbdulRazaq of Kwara State, also Chairman of the Nigeria Governors’ Forum, expressed gratitude for the President’s leadership and affirmed the governors’ commitment to working closely with the federal government.
President Tinubu’s unwavering rejection of a price control board serves as a testament to his administration’s commitment to empowering local agriculture and finding sustainable solutions to Nigeria’s pressing food security challenges.
The collaborative efforts between the federal government and state governors reflect a collective determination to address the myriad issues affecting the nation.
This concerted approach, grounded in local empowerment and strategic decision-making, bodes well for Nigeria’s resilience and progress.
