Food insecurity: Emefiele’s naira redesign ran farmers aground, says FG
12 December 2023 |
4:41 am
The Federal Government, yesterday, lamented that the naira re-design policy carried out by the Central Bank of Nigeria (CBN) from December 15, 2022, to early February this year, when the Supreme Court ruled against it, ran farmers bankrupt.
• Federal lawmakers raise alarm over hunger, famine in N’East
The Federal Government, yesterday, lamented that the naira re-design policy carried out by the Central Bank of Nigeria (CBN) from December 15, 2022, to early February this year, when the Supreme Court ruled against it, ran farmers bankrupt.
In a similar lamentation, federal lawmakers declared that the rate of hunger and famine in the land is causing death of the poor in rural areas.The issue came to the front burner during the budget defence session when the Minister of Agriculture and Food Security, Abubakar Kyari, spoke to the National Assembly Joint Committee on Agriculture.
In his presentation before the joint committee, chaired by Senator Saliu Mustapha All Progressives Congress (APC), Kwara Central, the minister said the focus of the 2024 budgetary proposals for the sector is to achieve food security in the country.
According to him, several factors like insecurity and naira re -design policy carried out about a year ago, impoverished farmers, thereby threatening food security in the country.
Kyari said: “The cash crunch, caused by the naira re-design, forced most of the farmers to sell their farm produce at give-away prices for survival, since buyers couldn’t access cash to buy the produce from them.
“The policy, which coincided with harvest season, rendered the farmers empty financially.” In their separate remarks at the session, Dahiru Ismaila Haruna from Toro Federal Constituency, in Bauchi State, and Ademorin Kuye from Shomolu Federal Constituency, Lagos State, raised the alarm on urgent need by the Federal Government to address the high rate of hunger in the country largely caused by insecurity.
Haruna, in his remarks, said: “There is a pathetic picture of people dying of hunger on a daily basis, while the majority of those surviving feed once a day.
“Making it worrisome is the fact that even people from neighbouring countries like Chad, Niger, Benin Republic and Central Africa are trooping in to mop up the little food signaling total famine in the area if not urgently addressed by stockpiling the silos.”
Ademorin, in his remarks wrote off the silos by telling the minister that most of the silos built by President Goodluck Jonathan’s administration were alleged to be concessioned for N20 million each.
The minister, however, in his response, assured the lawmakers that all issues raised are being addressed decisively in the 2024 fiscal year.
Related
2 hours ago
In a bid to enhance security and policing in Rivers State, the Niger Delta Development Commission (NDDC) has donated communication equipment to the Rivers State Police Command. The donation, which is part of the commission's efforts to support security agencies in the Niger Delta, is expected to improve communication and intelligence sharing among police commands…
1 day ago
The National Agency for Food and Drug Administration and Control (NAFDAC) has said it is taking legal action over false allegations of financial inducement related to a misleading herbal product, Lung Detox Tea (Lungitox). NAFDAC Director-General, Prof. Mojisola Adeyeye, disclosed this while addressing the issue during a press briefing today in Lagos. Adeyeye said the…
1 day ago
The Katsina State House of Assembly has passed into law the appropriation bill of N692.244 billion for the 2025 fiscal year in the state. The bill was passed during the assembly’s plenary in Katsina on Tuesday, presided over by the Speaker, Alhaji Nasir Yahaya-Daura. The News Agency of Nigeria (NAN) recalls that Gov. Dikko Radda,…
1 day ago
In a glittering celebration that drew together international media heavyweights, thought leaders, royalty, and policymakers, Stephanie Busari was honoured for her 25 years of
groundbreaking work in journalism
1 day ago
Senate The Nigerian Senate has called on the Federal Government to fund the establishment of modern ranches nationwide, aimed at improving safety and economic productivity for both herders and local residents. The lawmakers also resolved to enact a law that will define the limits of economic activities under the ECOWAS treaty. The resolutions came during…
1 day ago
NucleusIS Africa Limited, Africa's fastest-growing technology company, has announced its acquisition of Rigo Microfinance Bank Limited. This landmark takeover is expected to strengthen
1 day ago
President Bola Tinubu's wife, Senator Oluremi Tinubu, through her Renewed Hope Initiative Elderly Support Scheme (RHIESS), on Tuesday, supported 250 elderly persons in Oyo State with cash. Mrs. Tinubu stated that the initiative is an annual programme aimed at improving the welfare of elderly citizens across the country. Nigeria's First Lady, represented by the wife…
1 day ago
Lagos State Governor, Babajide Sanwo-Olu, and Chairman of the Lagos State chapter of the All Progressives Congress (APC), Pastor Cornelius Ojelabi
1 day ago
The Consulate General of the People's Republic of China in Lagos, in collaboration with the Huaxing Art Troupe Nigeria, China Business Association, and Overseas Chinese Women's Federation
2 days ago
PanAfrican Capital Holdings (PAC Holdings), a Proprietary investment company has announced the promotion of three senior executives, reinforcing its commitment to excellence and employee development.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.