President Bola Ahmed Tinubu will create and support a National Commodity Board that will review and continuously assess food prices as well as maintain a strategic food reserve that will be used as a price stabilisation mechanism for critical grains and other food items.
Tinubu’s Special Adviser on Special Duties, Communications and Strategy, Mr. Dele Alake, disclosed this during a briefing on Thursday, on the details of presidential intervention on food security, food pricing, and sustainability.
Alake explained that through the board, the government will moderate spikes and dips in food prices. SaharaReporters reports that following the declaration of the removal of subsidy on Premium Motor Spirit (PMS) by President Tinubu on the assumption of office on May 29, 2023, and subsequent economic reforms, the inflation rate has skyrocketed, resulting in high food prices.
Sahara Reporters
