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President Bola Tinubu says he will not set up any board to regulate prices of food commodities in the country.
“What I will not do is to set a price control board. I will not also approve the importation of food,”
Tinubu said at a meeting with 36 state governors, attended by the Vice-President, the National Security Adviser, the Inspector-General of Police, the Director-General of the DSS, and some ministers at the State House in Abuja on Thursday.
His comments come days after Vice President Kashim Shettima hinted at plans to establish a National Commodity Board to curtail the escalating food inflation in Nigeria.
The President’s Special Adviser on Media and Publicity, Ajuri Ngelale, revealed the details of Tinubu’s discussion in a statement titled ‘President Tinubu to 36 state governors: there must be zero tolerance for incompetence; support local farmers to boost food production and remove rent seekers.’
While declaring open a two-day high-level strategic meeting on climate change, food systems and resource mobilisation at Presidential Villa, the VP said the FG will tackle price volatility by “establishing a National Commodity Board.”
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,” he explained.
But Tinubu affirmed that his administration would not set up any such board.
