News
FG Mulls Commodity Board To Curb Rising Food Prices
Published
3 months agoon
By
EditorThe Federal Government on Tuesday hinted at plans to establish a National Commodity Board to curtail the escalating food inflation in Nigeria.
Vice President Kashim Shettima, who revealed the plan, said in tackling price volatility, 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.”
Shettima said this when he declared open a two-day high-level strategic meeting on climate change, food systems, and resource mobilisation held at the Banquet Hall of the Presidential Villa, Abuja.
According to a statement signed by his Senior Special Assistant on Media and Communications, Stanley Nkwocha, the VP was delivering his address titled, “Climate Resilience and Food Security: Nigeria’s Vision for the Future,” saying the two-day event attests to Nigeria’s efforts at mitigating the effects of climate change and ensuring food security for Nigerians.
The statement is titled ‘Food Security: FG mulls commodity board to tackle price volatility, others.’
Describing food security as one of the eight areas of priority of the Tinubu presidency, the VP highlighted ongoing policy reforms to ensure food and water availability and affordability.
He explained, “Our solution to the potential food crisis has become immediate, medium, and long-term strategies.
READ ALSO: Hardship: Tinubu Hints On Providing Social Welfare For All Citizens
“The short-term strategy entails revitalising food supply through specific interventions like the distribution of fertilisers and grains to farmers and households to counteract the effects of subsidy removal; fostering collaboration between the Ministry of Agriculture and the Ministry of Water Resources for efficient farmland irrigation, ensuring year-round food production, and addressing price volatility by establishing a National Commodity Board.”
He said while the Tinubu administration is fully invested in restoring degraded land, plans are underway to “restore four million hectares, or nearly 10 million acres, of degraded lands within” the nation’s borders as its contribution to the AFR100 Initiative.
Shettima apprised participants about the government’s handling of the security challenges preventing farmers from returning to their farms.
“I wish to assure you that we will engage our security architecture to protect the farms and the farmers so that farmers can return to the farmlands without fear of attacks.
“We won’t only make it safe for farmers to return to their farms, but we will also ensure the activation of land banks.
“There are currently 500,000 hectares of already mapped land that will be used to increase the availability of arable land for farming, which will immediately impact food output,” he assured.
READ ALSO: Buhari’s Reckless Policies Responsible For Current Hardship – Oshiomhole
The VP Shettima also revealed that the Tinubu administration is collaborating “with mechanisation companies to clear more forests and make them available for farming,” even as the Central Bank of Nigeria “will also continue to play a major role in funding the agricultural value chain.
He noted that the FG would deploy concessionary capital to the sector, especially towards fertiliser, processing, mechanisation, seeds, chemicals, equipment, feed, labour, among others.
“The concessionary will ensure food is always available and affordable, directly impacting Nigeria’s Human Capital Index.
“This administration is focused on ensuring the HCI numbers, which currently rank as the third lowest in the world, are improved for increased productivity,” he added.
Senator Shettima also restated frantic efforts by the administration to make agriculture attractive for the teeming youth population to “create between 5 to 10 million more jobs for them within the agriculture value chain.”
He revealed that the FG would do this by working with the current 500,000 hectares of arable land and the several hundreds of thousands more farmlands to be developed in the medium term.
These efforts, the VP continued, are part of FG’s bid to actualise Sustainable Development Goal Two of “Zero hunger” and the African Union Agenda 2063, which aims to transform Africa into a global powerhouse of the future.
READ ALSO: Economic Hardship: CSO Gives FG Ultimatum, Threatens Nationwide Protest
“But we can’t achieve this unless we guarantee food security by building the capacity of smallholder farmers who account for about 88 percent of the total food production in Nigeria,” he further noted.
Therefore, he implored participants, including development partners, private investors, and the diplomatic community to ensure that the high-level engagement results in a positive outcome.
Also speaking at the event, the National Coordinator of NEPAD, Mrs. Gloria Akobundu, said the programme decided to convene the stakeholders’ forum to strengthen smallholder farmers in Nigeria as a way of addressing the food shortage problem in the country.
“We have gathered key stakeholders from across Nigeria and all over the world to commence the resource mobilization conversation for smallholder farmers in Nigeria and Africa and emphasize the urgency of action required in the face of the current and growing food crisis,” Akobundu remarked.
On his part, AU Chairman of Food System, Dr Ibrahim Maiyaki, said Africa’s future challenges in the next 20 to 30 years could be tackled today through three parameters: the continent’s know-how, expertise, and leadership.
Maiyaki called for strong regional integration through food transformation as well as boosting of productivity and economic growth rates through the right policies and governance objectives
Other dignitaries who attended the opening ceremony of the high-level engagement include Chairman, Senate Committee on Cooperation and Integration in Africa, Senator Nasiru Zangondaura; Chairman, Senate Committee on Information and National Orientation, Senator Eze Emeka; representatives of the Governors of Bauchi, Edo, Delta, and Plateau States, as well as members of the Diplomatic Corps.
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Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday.
This came as traders also said some BDC operators resisted the arrest during a sting operation.
The operatives had embarked on routine raids to sanitise the market of street traders and eliminate arbitrary trading.
But this move was resisted on Tuesday leading to gunshots and damage to the operative’s vehicles, two currency traders who witnessed the incident confirmed to The PUNCH.
One of the traders who asked not to be named for fear of retribution said the traders simply acted out of frustration as the arrests were becoming too rampant and just to extort money from them.
He said, “EFCC guys came to raid and make an arrest on Monday and they came today (Tuesday) but today’s operation was too strong.
READ ALSO: JUST IN: CBN Sells FX To BDCs At N1,101/$1
“This is the issue we are facing. Yesterday (Monday) they arrested traders but they were attacked back today and gunshots were fired because our people tried to resist the arrest. They were provoked and frustrated. They even broke the glasses of the EFCC vehicles today and that means people are getting tired and desperate.”
Another trader who confirmed the incident warned that a continued raid by the anti-corruption body might lead to killings.
The trader who also pleaded anonymity said, “If this thing continues like this, that means they would kill people because if they try to arrest next time, nobody would agree and another person would gather together so that nobody would be taken.
“That was happened today. People are now turning because all they do after arrest is to collect money from us. Nothing else is done. They are frustrating use.’
The EFCC had resumed raiding in a bid to stabilise the naira.
Penultimate week, the commission arrested over 35 suspected currency speculators for alleged foreign exchange fraud.
READ ALSO: CBN Sells Fresh Dollars To BDCs At N1,021/$
Last week, it also paraded over 20 BDC operators arrested in the capital city.
Despite these efforts, the naira has continued on a free fall.
On the rates, the operators said they bought the dollar at N1,400 and sold at N1,425 per dollar leaving a profit margin of N25.
It also indicated an N5 drop from the N1,430 it sold on Monday.
A trader, Malam Yahu, complained of the market fluctuation, adding that it was now difficult to project what the rates would trade at.
He said, “Right now the market is just fluctuating, the naira is not stable at all and that’s why we are even sceptical about buying now. We can’t even predict how the market will trade.
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“For instance, after today’s arrest, I didn’t buy or make sales to avoid a loss. I bought it earlier today at N1,400 and sold it at N1,425.
“We have also noticed that once the prices go up, there will be scarcity because they would expect the naira to drop further but if it’s at a loss, they would then rush to sell it off.”
At the official market, data obtained from the FMDQ exchange securities revealed that the currency depreciated to N1,416/$ from N1,354/$ recorded at the foreign exchange market on Monday.
The new rate indicated that the naira dropped by 4.4 per cent or N62, raising concerns about rapid fluctuations.
The intraday high increased to N1,445 on Tuesday from N1,441/$1 recorded on Monday. The intraday low also depreciated to N1,301/$1 as against N1,285/$1 it traded on Monday.
The volume of dollars supplied by willing buyers and willing sellers however increased to $160.77m from $84.3m on Monday.
The former rate was the lowest point in approximately ten weeks when daily turnover was $66.4 million, which occurred on February 19, 2024.
PUNCH
News
Suspended Edo Lawmaker, Iyamu Breaks Silence, Says All Issues Will Be Resolved
Published
4 hours agoon
May 8, 2024By
EditorOne of the suspended members of the Edo State State House of Assembly, Hon. Bright Iyamu, has urged his constituents and supporters to remain calm and shun any form of violence.
The lawmaker, representing Orhionmwon South Constituency in the House of Assembly was suspended alongside two other lawmakers namely: Hon. Donald Okogbe (PDP Akoko-Edo II) and Adeh Isibor (APC Esan North-East Constituency I) on Monday May 6, 2024, by the Speaker of the House, Blessing Agbebaku.
Reacting, a statement from the office of the lawmaker assured that the “ugly situation will be brought under control.”
READ ALSO: [BREAKING] ‘Juju’ Scare: Edo Speaker Suspends Shaibu’s Ally, Two Others
“I had no motive to call for the impeachment of the Speaker, nor the intentions to impugn the integrity of the house,” he added.
Iyamu reassured his constituents and supporters that normalcy will be restored soon to the Edo State House of Assembly.
Recall that the Speaker of the House of Assembly, Hon. Agbebaku suspended the three members for allegedly plotting to effect a change of leadership in the house.
News
‘I’m Considering Having 4th Child’ – Mother Of Three Who Breastfeeds Husband , 3 Kids [PHOTOS]
Published
14 hours agoon
May 7, 2024By
EditorA Florida woman who made headlines for breastfeeding her husband has revealed that they are considering having another baby so she starts lactating again.
Rachel Bailey, 31, and her husband Alexander, 30, said they have “grieved” their “bonding experience” since her body stopped producing milk in the past year.
The couple’s three children have all weaned off the milk, which meant Alexander had to as well.
Now, they are considering having a fourth child so they keep up the habit.
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“I was in so much pain and I was scared about getting an infection, so we decided that my husband was going to try drinking the milk to relieve me,” she said.
Mum-of-three who breastfeeds her husband alongside their kids reveals she
“We were nervous about the idea of him breastfeeding from me as we thought it seemed weird, but as soon as we did it, we realized it was perfectly fine.”
The couple continued the practice after the births of their two younger children, with Ms Bailey breastfeeding her husband at breakfast, lunch, and dinner.
READ ALSO: VIDEO Newly Appointed LG Supervisors, Advisers In Ekiti Take Oath Of Office With ‘Ogún’
Once her supply dwindled, they switched to nightly feedings. Ms Bailey claims that because her milk is “so nutritious,” it kept Alexander from getting a cold for more than two years and left his skin glowing.
“He ended up loving the taste of my breast milk and even prefers it to cow’s milk now,” she said.
When her breasts stopped producing milk, she said they grieved the bonding experience they shared because of her breastfeeding him.
They even briefly considered growing their family to keep up the breastfeeding.
READ ALSO: Five Things To Know About The New Cybersecurity Levy To Be Paid By Nigerians
“We grieved that bonding experience that we shared, and we even spoke about having one more baby so that we could do it again,” Ms Bailey said.
“However, we realized that was a drastic action to take and a lot of work, so instead we began looking for other ways that we could bond as a couple.”
Instead, they now get up at 5 am each morning to catch up and meditate before getting on with the rest of their day.
“It was never a sexual thing for us. We did it because it was an amazing way for us to bond and share something special as a couple,” Ms Bailey said.
“We really miss the breastfeeding times that we shared, but we have found new ways to connect.”
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