February 6, 2017Burari, President of Nigeria

FG Task-force to bring food price down not a solution food price at the moment

Aibinuola Olamide Conveiner Democracy Contenders
Aibinuola Olamide (Convener Democracy Contenders)

The problem of our dear country, Nigeria, is not the high food price at the moment and not the FG task-force assigned to bring the food price down.

In my opinion, there are certain things that the Federal Government should do if truly they are interested in the suffering the masses are going through at the moment but definitely the task force   as none of these so called task force has ever work in the past. A very good example of such task force is Petroleum Product Price Regulatory Agency.

In the first place, the food prices are not the only commodity price that has gone up suddenly in the past few months. Prices of Kerosene, Gas as well as other commodity have been affected. In my field, we call this a multiplier effect. Therefore, if the Federal Government wants a lasting solution, its focus should be on other key components of the economy.

Federal Government in the first place should start implementing those good economic policies that are value driven. This has always been the dream of every actors and key stakeholders in the value chain.

Government is expected to focus on improving the electric power generation which is decreasing every day. This issue couple with bad monetary policy has forced the thriving industry to relocate to the neighboring countries like Ghana, Cameroon and so on.

Also, Government need to further invest in agriculture especially in the area of preservation and management of excess production. Agriculture in this country should be taken farming activities could translate to real wealth, where farmers produce can be bought at profitable price, of course in large quantities by the government, and inject such reserve into the market in time like this when country need it the most.

It should not be forgotten that whatever the task-force does, it will still be subjected to the market force and the will power for implementation on the part of the Federal government of Nigeria. The issue of market force can, of course, be influenced if the government can find a way of strengthening Naira value and bring down the forex rate, provide palliative measures to cushion the border-lock issues until the country’s food production enough to sustain us.

My conclusion on the issue of Federal Government Task-force set up to regulate the high food price is that is that it should find a way of putting up the suggestions above to the government and find a way to implement them rather than focusing on reducing the high food price as that will cause another untold hardship.

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