President Bola Tinubu has said his administration is ready to cut all forms of “rent seekers” tied to imported food.
Tinubu also insisted that his administration is set to tackle the nation’s food security challenges by setting up schemes to boost local food production.
“We cannot allow speculators, hoarders, and rent seekers to undermine our efforts in ensuring that food is widely available to all Nigerians,” Tinubu said in a post on X.
He noted that he would not establish a price control board or approve the importation of food.
The president added that the country must extricate itself from this predicament, noting that importation only enables rent seekers to perpetrate fraud and mismanagement of expenses.
“Instead, we will support our farmers with schemes that encourage them to cultivate more food for the nation.
*We must also rapidly but thoughtfully implement our livestock development and management plans, including dairy farming and others.”
Meanwhile, on security issues, the president disclosed that he has approved the creation of a committee that includes state governors and federal government representatives to explore the possibility of establishing state police.
Tinubu also added that he has endorsed the training and equipping of forest rangers by sub-national governments to protect human and communities’ natural resources.
On the monetary issue, he criticized the “cacophony of postulations” on foreign exchange rates, saying that public pronouncements from unqualified individuals disrupt the market.
“Not everyone can be an expert. If we have assigned someone a task, we must allow them to perform it. If they fail, then we must find a way to quickly remove them from the system,”
He, however, urged all governors to trust the Central Bank of Nigeria with the management of the country’s monetary policy, and the need for designated institutions to fulfil their mandate.
