President Bola Ahmed Tinubu’s agricultural reform agenda advanced Tuesday as Nigerian Senate approved key bills, including a National Food Reserve Agency, aims to stabilise food prices and boost food security.
Senators passed the measures during plenary in Abuja. Saliu Mustapha, Chairman of the Senate Committee on Agricultural Production Services and Rural Development, presented the reports.
First, the headline bill creates a National Food Reserve Agency. It will manage grain storage. Additionally, it cushions supply shocks and moderates prices.
Mustapha explained that this aligns with Tinubu’s vision. Specifically, it promotes economic diversification and self-sufficiency. Moreover, it promises jobs and a stronger value chain.
Next, senators approved a cassava inclusion policy. Flour millers must use at least 20 per cent cassava. Consequently, this reduces reliance on imported wheat.
As a result, local cassava production will grow. This also lowers import costs significantly.
Furthermore, the Senate addressed rice imports. Nigeria spends about $2 billion yearly on them. Lawmakers called this unsustainable.
Thus, they approved a National Rice Council Board. It will coordinate production, processing, and distribution. Ultimately, it builds a full farm-to-market chain.
Now, the bills head to the House of Representatives for approval. After concurrence, they go to President Tinubu for assent.
Mustapha highlighted the impact. “The goal is a full agricultural value chain, from farm to reserve to processing,” he said. Therefore, these reforms improve food availability. They also support economic stability.
In addition, they align with Tinubu’s policies. Overall, lawmakers expect jobs and reduced import dependence nationwide.
This approval addresses food inflation and supply issues in Nigeria.
