Malik Yahya/
In a pivotal press briefing at the National Press Centre, Abuja, on July 8, 2024, Senator Abubakar Kyari, Honourable Minister of Agriculture and Food Security, announced the implementation of the Presidential Accelerated Stabilization and Advancement Plan.
This initiative, driven by President Bola Ahmed Tinubu, aims to address Nigeria’s escalating food prices and economic instability.
Acknowledging the severe food inflation, which the National Bureau of Statistics recently pegged at a staggering 40.66%, Senator Kyari emphasized the government’s awareness of the widespread hardship caused by the skyrocketing cost of basic food items. “We have heard the cries of Nigerians over the prices of food items and condiments,” Kyari stated, underscoring the urgency of the situation.
The plan responds to the dual crises of food affordability and availability, exacerbated by disrupted agricultural production and the resulting shortfall in contributions from smallholder farmers. This has necessitated a shift from merely addressing affordability to ensuring sufficient food supply.
Despite previous interventions, such as releasing 42,000 metric tons of assorted food commodities and procuring additional milled rice, prices continue to soar, and availability remains a critical issue. Recognizing the limitations of these measures, the government is now focused on implementing stop-gap solutions alongside long-term strategies to bolster domestic production.
Kyari outlined the urgent need for immediate relief to Nigerians while reinforcing sustainable agricultural practices. With the next major harvest not due until October-November 2024, these combined efforts aim to provide immediate relief and enhance food security in the long run.
This comprehensive approach signals a decisive move by the Tinubu administration to stabilize the economy and secure food availability for all Nigerians, reaffirming the government’s commitment to mitigating the ongoing crisis.
0