Yesterday marked the official release of strategic initiatives by the federal government to address the nation's excessive food prices.
The proposals were made public by Minister of Agriculture and basic Security Abubakar Kyari on his verified X account. He said that the steps will be implemented over the course of the next 180 days with the goal of bringing down the skyrocketing prices of basic commodities.
A 150-day duty-free import window for food commodities is one of the measures. Another is the suspension of duties, levies, and taxes on the importation of certain food commodities over land and sea borders, such as maize, husked brown rice, wheat, and cowpeas.
The minister stated that these goods will be offered at a Recommended Retail Price and would be subject to a pricing control scheme to guarantee affordability.
Additionally, 250,000 metric tons of wheat and 250,000 metric tons of maize were scheduled to be imported by the federal government and distributed to small-scale processors and millers around the country.
Among other things, Kyari stated that the government will work with pertinent parties to establish a Guaranteed Minimum Price (GMP) and buy extra food to replenish the country's strategic food stockpile.
He continued by saying that the administration, along with the Economic Management Team (EMT) and the Presidential Food Systems Coordinating Unit (PFSCU), will finalize the implementation frameworks over the course of the next 14 days.
The minister also emphasized that all pertinent Ministries, Departments, Agencies (MDAs), and stakeholders must work together for these steps to be successful.
He reaffirmed President Tinubu's pledge to guaranteeing food security and preventing hunger among Nigerians.
He declared: "Our administration has unveiled a number of strategic initiatives designed to address the nation's current problem with high food prices." Over the course of the following 180 days, these actions will be taken.
The suspension of duties, levies, and taxes for the importation of specific food goods across land and sea borders is one of them, along with a 150-day Duty-Free Import Window. These goods consist of cowpeas, wheat, husked brown rice, and maize.
"A Recommended Retail Price (RRP) shall apply to imported food goods. We recognize that there may be issues with these imports' quality, particularly in light of their genetic makeup.
The government guarantees that all regulations will be upheld to guarantee the security and caliber of food products for human use.
Two hundred and fifty thousand metric tons each of wheat and maize will be imported by the federal government. Small-scale processors and millers around the nation will get these semi-processed goods.
"Engagement with relevant stakeholders to set a GMP and purchase," he went on, excess food commodities to replenish the National Strategic Food Reserve, an increase in production for the 2024–2025 farming cycle, and sustaining government support for smallholder farmers through current programs throughout the current wet season.
"A Recommended Retail Price (RRP) shall apply to imported food goods. We recognize that there may be issues with these imports' quality, particularly in light of their genetic makeup.
The government guarantees that all regulations will be upheld to guarantee the security and caliber of food products for human use.
Two hundred and fifty thousand metric tons each of wheat and maize will be imported by the federal government. Small-scale processors and millers around the nation will get these semi-processed goods.
"Engagement with relevant stakeholders to set a GMP and purchase," he went on, excess food commodities to replenish the National Strategic Food Reserve, an increase in production for the 2024–2025 farming cycle, and sustaining government support for smallholder farmers through current programs throughout the current wet season.
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