Some Nigerians contend that, while the Federal Government’s proposal to establish a National Commodity Board is commendable, it alone cannot effectively reduce or stabilize food prices. Vice President Kashim Shettima revealed this plan during a recent climate change and food systems meeting in Abuja, emphasizing the board’s role in assessing and regulating prices and maintaining a strategic food reserve.
Kwara-based lawyer and political strategist Barrister Titilope Anifowoshe acknowledges the proactive aspect of the board’s creation but emphasizes the need to address underlying factors like insecurity, government policies, and climate change affecting food security.
Public affairs commentator Bishop Dr Joseph Ighalo Edoro criticizes the redundancy of creating a new board, citing existing entities like the Price Control Board and the Federal Consumer Protection Commission. He questions the viability of controlling prices in an inflationary economy.
Financial expert Prof John Ebhomien views the National Commodity Board positively, drawing parallels with past successful boards like the Nigeria Cotton Board. He suggests that the government must address broader issues such as insecurity, unemployment, inflation, and exchange rates.
Dr Rexkennedy Saltlove of the CREMA Initiative welcomes the board’s potential impact on stabilizing prices if implemented effectively. He highlights the role of middlemen and the importance of regulating commodity prices to benefit both farmers and consumers.
Public affairs analyst Dr Andrews Okhirebhu expresses skepticism about the government’s ability to control prices, considering its lack of involvement in production. He questions the authenticity of the proposal and raises concerns about past ideas being used for corruption.
In contrast, President Bola Tinubu later clarifies that he won’t establish a price control board and rejects approving food importation. He emphasizes the need for a different approach to address the country’s economic challenges.
Overall, diverse opinions highlight concerns about addressing root causes, the effectiveness of existing agencies, and the potential impact of a National Commodity Board on Nigeria’s complex economic landscape.
