President Muhammadu Buhari is currently meeting with members of the National Food Security Council, NFSC, including six state governors in the State House, Abuja over rising food prices in the country.
Others at the meeting are the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, and cabinet members of relevant ministries.
The meeting which also has the Secretary to the Government of the Federation, SGF, Boss Mustapha, and the National Security Adviser, NSA, Major General Babagana Monguno is also to address demands by leaders of the Agriculture Commodity Association.
The Association is currently calling for a sector reform that will ensure better coordinated and synergy.
Governors at the event include Atiku Bagudu of Kebbi State, who is also the Vice-Chairman of the Council, Babajide Sanwo-Olu of Lagos, Badaru Abubakar of Jigawa, Simon Lalong of Plateau, Darius Ishaku of Taraba, and Dave Umahi of Ebonyi.
The Ministers in attendance are those of Finance, Budget and National Planning, Dr. Zainab Ahmed, Trade, Industry and Investment, Otunba Niyi Adebayo, Agriculture, and Rural Development, Alhaji Sani Nanono, Interior, Ogbeni Rauf Aregbesola, Humanitarian Affairs, Disaster Management, and Social Development, Hajiya Sadiya Umar Farouq, and that of Water Resources, Engr Suleiman Adamu.
Other senior officials present are the Director-General of the Department of State Service, DSS, Yusuf Bichi, the Director-General of the National Intelligence Agency, NIA, Ahmed Rufa’i Abubakar, and the Comptroller-General of the Nigeria Customs Service, NCS, Col. Hameed Ali.
Speaking during the opening session before the meeting went into closed doors, the Chief of Staff to the President, COS, Ibrahim Gambari, said the current price increases are transient as the prices are expected to crash as new grains come into the market.
He said: “The recent surge of national food prices is gradually evolving to a food crisis with a capacity to threaten the nation’s food security.”
Gabari said the meeting was to ascertain the root causes of the recent spike in food prices and to craft strategies to mitigate its effect.
He explained that although various concerns were raised about the possible root causes of the increase in commodity items. Gambari noted that the government has been informed that prices are actually on the decline as new grains have been introduced to the market.
The COS said new maize which was previously sold for N25,000 per bag is now being sold between N12,000 and N17,000 and that it was expected to fall between N7,000 and N8,000 per bag by November 2020.
He said the decline mostly affected millet, beans and sorghum.
