By Sabiu Abdullahi
President Bola Tinubu has dismissed the possibility of establishing a price control board or endorsing the importation of food items into Nigeria as measures to tackle the nation’s rising inflation and high cost of living.
The President made this assertion during a meeting with 36 state governors and other dignitaries, including Vice-President Kashim Shettima, National Security Adviser Nuhu Ribadu, Inspector-General of Police Kayode Egbetokun, Director-General of the Department of State Services Yusuf Bichi, and several ministers at the State House in Abuja on Thursday.
Amidst protests erupting across states over the escalating cost of food items, some observers have suggested that the government consider importing essential commodities like rice and flour.
Notably, recall that a Federal High Court in Lagos recently ordered the Federal Government to regulate the prices of goods and petroleum products within seven days, in response to a motion filed by Senior Advocate of Nigeria Femi Falana.
However, President Tinubu firmly stated his administration’s commitment to addressing the nation’s food security challenges through domestic solutions.
He affirmed his reluctance to institute a price control board or permit food importation, expressing concerns about potential fraud and mismanagement associated with such measures.
In a statement by his spokesman, Ajuri Ngelale, President Tinubu reiterated, “What I will not do is to set a price control board. I will not also approve the importation of food.”
He stated the need for self-reliance, asserting that supporting local farmers and enhancing agricultural productivity would be pivotal in overcoming the current economic challenges.
“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,” President Tinubu remarked.
He advocated for the implementation of schemes to incentivize farming activities and underscored the importance of livestock development and management plans, including initiatives like dairy farming.
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