The Senate has called on the Federal Government to urgently initiate measures to tackle the looming food insecurity in Nigeria. Additionally, the government has been urged to outline the steps being taken to combat the situation and address the nation on the matter.
This resolution followed the adoption of a motion on the urgent need to address food insecurity and market exploitation of consumables in Nigeria, presented at a plenary session. The motion was sponsored by Sen. Sunday Karimi (APC-Kogi) and Sen. Ali Ndume (APC-Borno).
Leading the debate, Karimi highlighted the skyrocketing prices of goods and household consumables in recent months, contributing to high inflation, weakened purchasing power, and deteriorating living conditions for many Nigerians. He cited data from the National Bureau of Statistics (NBS), which showed that food inflation had surged to 40.66% on a year-on-year basis, up from 24.82% in May 2023.
Karimi noted that the prices of staple food items such as beans, maize, rice paddy, yam, tomatoes, and onions had increased by 100% to 300% following the removal of the petroleum subsidy, with no clear reason for the surge. Factors such as insecurity in food-producing regions, bad roads, rising transportation costs, and the depreciation of the Naira were identified as contributors. However, he emphasized that greed among merchants, traders, and retailers seeking supernormal profits was also a significant factor.
Karimi condemned the attitude of exploiting fellow Nigerians for profit, which he attributed to a broader trend of corruption among the political class and corporate elites. He also pointed out that some farming communities preferred selling their produce to neighboring countries, exacerbating local food insecurity.
