Food Inflation: NSA, 36 States launch joint action.
The National Security Adviser (NSA) Nuhu Ribadu and the 36 state governors have launched a joint action to tackle food inflation in Nigeria.
By Rhalialt Arhuoizah
Here’s what you need to know :
– Key Objectives:
– Harmonize Levies: Eliminate illegal checkpoints and unauthorized levies to reduce transportation costs and improve the free movement of goods across states.
– Enhance Food Security: Address supply chain disruptions, insecurity, and high transportation costs driving food inflation.
– State-Level Security: Implement a state-level security architecture to complement federal efforts and protect farmlands, reduce post-harvest losses, and rebuild farmer confidence.
– Background:
– Despite a technical drop in year-on-year food inflation to 21.14% in May, month-on-month inflation rose to 2.19%, reflecting ongoing price pressures in specific food items.
– Food prices continue to surge in several states, particularly in regions that are top producers of staple crops, highlighting a disconnect between local production and affordability.
– Collaborative Efforts:
– The Nigeria Governors’ Forum and the Federal Government will work together to streamline levies, dismantle unauthorized checkpoints, and improve the movement of goods.
– The World Bank’s NG-CARES program has invested over $2.2 billion in states, benefiting over 17 million people, but governors expressed concerns over unfulfilled funding pledges.
– Implementation:
– A high-level inter-ministerial committee has been established to address concerns and submit recommendations for endorsement.
– Governors are committed to collaborating with federal authorities to protect lives and property, and ensure food security.
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