The Minister of Information, Mohammed Idris, has unveiled a potential course of action by the federal government to mitigate the surge in food prices, suggesting that food importation could be employed as a short-term solution.

Speaking to State House correspondents following the conclusion of a series of meetings held by the Special Presidential Committee on Emergency Food Intervention at the Aso Rock Villa, Idris emphasized the urgency of addressing the escalating costs of food items in the country.

Against the backdrop of a staggering food inflation rate of 33.93% recorded as of December 2023, the government is actively exploring various avenues to alleviate the burden on consumers.

Furthermore, Idris underscored the government’s resolve to confront individuals engaging in what he termed as “food hoarding” practices. He reiterated the administration’s readiness to implement punitive measures against those exacerbating the food scarcity situation.

He said,  

• “Now, the third item is that government is also looking at the possibility, if it becomes absolutely necessary, as an interim measure in the short run to also import some of these commodities to address food inflation “.  

FG releases 102,000 metric tons of grains  

According to Idris, President Bola Tinubu has directed the prompt release of over 102,000 metric tons of diverse grain varieties from both the National Food Reserve and the Rice Millers Association of Nigeria. 

• “The first one is that the Ministry of Agriculture and Food Security has been directed to release about 42,000 metric tons of maize, millet, garri, and other commodities in their strategic reserve so that these items will be made available to Nigerians: 42,000 metric tons immediately. 
• “The second one is that we have held meetings with the Rice Millers Association of Nigeria. Those who are responsible for producing this rice and we have asked them to open up their stores. 
• “They’ve told us that they can guarantee about 60,000 metric tons of rice. This will be made available and we know that that is enough to take Nigerians the next one month to six weeks, perhaps up to two months,” he added.  

Key Facts

• Nigeria is currently grappling with a severe spike in food inflation, reaching a staggering 33.93% as reported by the National Bureau of Statistics, marking the highest level in nearly a decade. The alarming surge in food prices has compelled the federal government to declare a state of emergency on food security, signaling urgent action to address the crisis.
• The government yesterday opted to tap into the National Food Reserves as part of its strategy to mitigate the escalating prices of essential food items.
• Human rights lawyer and activist, Femi Falana, SAN, had taken legal action against the government regarding the challenges posed by soaring food prices in the market. The High Court in Lagos, responding to the petition, issued a consequential ruling on Wednesday, February 7.
• The court ordered the federal government to swiftly regulate the prices of goods and petroleum products within a tight timeframe of seven days, underscoring the urgency of the situation and the need for immediate intervention.

Credit: Nairametrics