No plan to establish price control board - Tinubu vows amid food crisis

The President also said he would never approve the importation of food, stating that his administration is evolving home-grown solutions to address the nation’s food security through schemes to support local production.

He made these known at a meeting with State Governors at the Presidential Villa in Abuja on Thursday, February 15, 2024.

The meeting also had in attendance Vice President Kashim Shettima, National Security Adviser (NSA) Nuhu Ribadu, Inspector-General of Police Kayode Egbetokun, Director-General of the DSS Yusuf Bichi, and some ministers.

”What I will not do is to set a price control board. I will not also approve the importation of food," a statement by Ajuri Ngelale, the President's Special Adviser on Media and Publicity, quoted Tinubu to have said.

This development comes a few days after the Vice President hinted at a plan by the Federal Government to establish a National Commodity Board to tame the escalating food inflation in the country.

During his opening speech at a two-day high-level strategic meeting on climate change, food systems and resource mobilisation at Presidential Villa, Shettima said the Federal Government will tackle price by “establishing a National Commodity Board.”

According to him, the board will be empowered to “continually assess and regulate food prices, maintaining a strategic food reserve for stabilising prices of crucial grains and other food items.”

But Tinubu stressed that his administration isn't considering the creation of any such board.

Instead, he said his government is evolving home-grown solutions to address the nation’s food security challenges by setting up schemes to support local production and discourage all forms of rent-seeking associated with food importation.

"We should be able to get ourselves out of the situation we found ourselves in because importation will allow rent seekers to perpetrate fraud and mismanagement at our collective expense," the President noted.

To tackle insecurity, Tinubu approved the establishment of a committee comprising State Governors and Federal Government representatives to explore the modalities for establishing state police, among other things.

”My position at this meeting is that we must move aggressively and establish a committee to look critically at the issues raised, including the possibility of establishing state police.

”From Kano, we have read reports about large-scale hoarding of food in some warehouses. The National Security Adviser (NSA), the Inspector-General of Police, and the Director-General of the Department of State Services should coordinate very closely and ensure that security agencies in the states inspect such warehouses with follow up action.

”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," he stated.