Hardship: Nigerian Govt to Establish Price Control Board? Tinubu Speaks

Hardship: Nigerian Govt to Establish Price Control Board? Tinubu Speaks

  • President Bola Tinubu has ruled out the possibility of setting up a commodity price control board
  • This is as prices of food and commodities continue to soar amid the economic hardship in the country
  • Legit.ng reports that the federal government also said Nigeria can feed itself and even be a net exporter of food items

Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering politics and governance issues.

FCT, Abuja - President Bola Tinubu has said his administration will not set up any board to regulate prices of food commodities in the country.

The president's comment comes days after vice president, Kashim Shettima, hinted at plans to establish a national commodity board to tackle the escalating food inflation in Nigeria.

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food security challenges in Nigeria/hardship/economic hardship in Nigeria
Almost every part of Nigeria is facing economic hardship. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

Shettima reportedly said this when he declared open a two-day meeting on climate change, food systems, and resource mobilisation in Abuja.

But The Punch reported on Thursday, February 15, that Tinubu stated that his administration would not set up any such board.

Rather, it is understood that the government is evolving home-grown solutions to address the nation’s food security challenges and economic hardship.

Vanguard newspaper also noted the government's stance.

Tinubu said:

“We must ensure that speculators, hoarders, and rent seekers are not allowed to sabotage our efforts in ensuring the wide availability of food to all Nigerians.
"What I will not do is to set a price control board. I will not also approve the importation of food.”

Nigeria doesn't need to import – FG

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In a similar vein, the federal government said there is no need for the country to import food items from other countries. It noted that Nigeria can feed itself and even be a net exporter of food items.

As reported by Channels Television, the minister of information, Mohammed Idris, disclosed this on Thursday, February 15.

Idris said:

“There will be no need for food importation at this point.
"Nigeria has the potential to feed itself and even be a next exporter of food items to other countries."

Read more about economic hardship in Nigeria

Hardship: Tinubu asked to immediately resign

Earlier, Legit.ng reported that Toyin Raheem, the chairman of a non-governmental organisation, Coalition Against Corruption and Bad Governance, asked President Tinubu to resign.

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Raheem said the Tinubu administration, though nine months old, has “failed”.

He specifically expressed displeasure with the kidnapping epidemic in the country, saying abductors now dare to storm homes and carry out attacks.

Source: Legit.ng

Ridwan Adeola avatar

Ridwan Adeola (Current Affairs Editor) Ridwan Adeola Yusuf is a Current Affairs Editor at Legit.ng and a certified journalist with over 9 years of experience. He edited Politics Nigeria's articles, was the Acting Editor of AllNews Nigeria and Fact-Checking Researcher (Africa Check). He received his HND in Mass Communication from The Polytechnic Ibadan. He received a Certificate of Achievement (Journalism Clinic’s Fix The Leak masterclass, 2021) and also completed Google News Initiative's Advance digital reporting curriculum. Contact him at ridwan.adeola@corp.legit.ng.

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