News in Brief:
– Nigeria aims to tackle food security challenges like dollarisation by improving fertiliser access, farm security and collaboration with key players.
– Vice President Shettima emphasises sound economic decisions and tangible results, as the government moves to prioritise citizens concerns.
Nigeriaâs federal government has announced a multi-pronged approach to tackle food security challenges, including addressing the dollarisation of locally produced commodities, increasing fertiliser availability, and enhancing farm security.
These measures were unveiled during the 139th meeting of the National Economic Council (NEC), chaired by Vice President Kashim Shettima. He stated that the economy must be redirected towards a place of ‘boom and competitiveness’ or Nigerians will have to brace for an impact that the country will likelly not survive. He added that the administration is working on strategic moves to prevent this by reviving the economy.
During the meeting, the council urged action against the practice of denominating locally produced commodities like urea in dollars. They blamed this practise for the inflated prices of fertiliser, which ultimately hinders agricultural productivity.
Additionally, they floated the idea of a meeting with major local fertiliser producers like Indorama, Dangote and Notore to address fertiliser accessibility concerns for local farmers. Another solution that the NEC suggested was the establishment of agro-rangers to tackle insecurity in farms, albeit a short-term solution.
Subsequently, Vice President Shettima stressed the need for stakeholders to make sound economic decisions that align with the expectations of Nigerians, urging collective efforts to overcome current challenges. He highlighted the importance of tangible results for citizens, prioritising their concerns over economic theories and ensuring decisions resonate with their aspirations.
