President Bola Tinubu has stated unequivocally that his administration will not establish a board to regulate prices of food commodities in the country.
Speaking at a meeting with 36 state governors, attended by top government officials including the Vice-President, National Security Adviser, Inspector-General of Police, Director-General of the DSS, and several ministers at the State House in Abuja, Tinubu made his stance clear.
“What I will not do is to set a price control board. I will not also approve the importation of food,” he asserted.
Tinubu’s remarks come in response to recent comments by Vice President Kashim Shettima, who hinted at plans to establish a National Commodity Board to address escalating food inflation in Nigeria.
However, Tinubu emphasized his administration’s commitment to home-grown solutions, focusing on supporting local farmers to boost food production and discouraging rent-seeking associated with food importation.
The President’s Special Adviser on Media and Publicity, Ajuri Ngelale, shared details of Tinubu’s discussion in a statement titled ‘President Tinubu to 36 state governors: there must be zero tolerance for incompetence; support local farmers to boost food production and remove rent seekers.’
While Vice President Shettima had proposed the establishment of a National Commodity Board to tackle price volatility and maintain a strategic food reserve, Tinubu reiterated his stance against such a board, emphasizing the importance of domestic solutions to address food security challenges.
