FG Stabilizing Food Prices with Strategic Reserves, Supporting Farmers

Nigeria’s Federal Government is taking proactive steps to ensure food security and stabilize prices through strategic food reserve stockpiling.

The initiative aims to support farmers, promote all-year-round farming, and boost agricultural productivity.

The government has released 42,000 metric tonnes of assorted grains and 60,000 metric tonnes of rice from national reserves to stabilize prices and provide relief to citizens.

Additionally, the National Agricultural Growth Scheme (NAGS) has supported over 500,000 smallholder farmers with subsidized inputs and digital payment systems.

The government is also revitalizing the Bank of Agriculture to strengthen the economy and enhance food security. Other initiatives include the Special Agro-Industrial Processing Zones (SAPZ) project, Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL), and collaboration with international partners like the African Development Bank and the French Development Agency.

These efforts aim to improve food security, promote economic growth, and make Nigeria a leader in agricultural development in Africa.