President Bola Tinubu has reiterated his administration’s commitment to making Nigeria a net exporter of food despite the recent surge in food prices. Speaking during a meeting with the leadership of the Tijanniyya Movement in Abuja, the president emphasized the need for self-sufficiency in food production through significant investments in agriculture.
President Tinubu announced plans to provide low-interest or no-interest loans to farmers to enhance crop production and increase food supply in the country. He highlighted the challenges of food security, noting that global events, such as the war in Ukraine, underscore the importance of local food production.
The president outlined his administration’s strategy, which includes expanding farmland, introducing tractors into the economy, and investing in irrigation. He expressed confidence that Nigeria will overcome challenges in the livestock sector and achieve economic prosperity and social harmony.
Addressing healthcare challenges, President Tinubu pledged to invest in the health system and provide modern equipment to medical practitioners. He emphasized the importance of comprehensive health insurance coverage for all citizens.
Food inflation has been a pressing issue in Nigeria, with the Nigeria Bureau of Statistics reporting a food inflation rate of 33.39%. The government has declared a state of emergency on food security, yet prices continue to rise. The Food and Agricultural Organisation (FAO) projected that 26.5 million Nigerians could face hunger in 2024, with certain states at higher risk.
In response to rising food prices, President Tinubu directed the Ministry of Agriculture and Food Security to release 42,000 metric tons of maize, millet, and other commodities from national reserves to stabilize prices.
Nairametrics