House of Representatives Launches Probe Into Soaring Food Prices Amid Federal Interventions

The House of Representatives has initiated an investigation into the persistent rise in food prices across Nigeria, despite several interventions by the federal government aimed at curbing inflation and improving food security.

This move was announced during a plenary session on Tuesday, April 9, 2024, as lawmakers expressed concern over the worsening economic hardship faced by Nigerians due to skyrocketing prices of essential food items. The House resolved to mandate its Committee on Agricultural Production and Services to thoroughly investigate the factors responsible for the inflation in the agricultural sector.

The motion to investigate was raised by Hon. Chike Okafor, who highlighted the disconnect between government efforts and the situation on the ground. He noted that although the federal government has launched various programs and spent billions of naira to boost agricultural productivity and support farmers, the price of basic commodities continues to climb, worsening hunger and poverty levels.

According to Hon. Okafor, several intervention programs, including the Anchor Borrowers’ Programme, the Agricultural Credit Guarantee Scheme Fund, and other food security initiatives, were designed to increase food supply and stabilize market prices. However, the impact of these interventions has not been felt by ordinary Nigerians, raising questions about their implementation and effectiveness.

He pointed out that staple food items such as rice, maize, garri, yam, beans, and tomatoes have all seen significant price hikes in recent months. The lawmaker attributed the sharp increase to a range of issues, including insecurity in farming regions, poor storage facilities, bad road networks, middlemen exploitation, and climate-related challenges.

Lawmakers who contributed to the debate expressed similar concerns, stating that the government must urgently address the structural and logistical barriers within the agricultural sector. They stressed the importance of transparency in the disbursement and monitoring of agricultural funds to ensure they reach the intended beneficiaries.

Many of the representatives emphasized that the rise in food prices has led to an increase in social unrest, malnutrition, and desperation among citizens. Some added that the situation could deteriorate further if proactive measures are not taken swiftly to reverse the trend.

The House further called on the Federal Ministry of Agriculture and Food Security, the Central Bank of Nigeria, and other relevant agencies to provide detailed reports on the implementation of past and ongoing intervention programs. Lawmakers said it is crucial to evaluate the effectiveness of these initiatives to determine whether public funds have been appropriately utilized.

The committee was also tasked with engaging key stakeholders, including farmer associations, food distributors, transport unions, and agricultural experts, to gather insights and recommendations on how to tackle the crisis. The findings of the committee are expected to inform legislative and policy actions aimed at improving food affordability and accessibility across the country.

While commending past efforts to improve agricultural output, the House noted that the disconnect between policy and outcome points to deeper systemic issues. These include poor oversight, lack of accountability, corruption, and inefficiencies in the value chain from farm to market.

In closing the debate, Speaker of the House, Hon. Tajudeen Abbas, stressed the urgency of the matter, stating that the welfare of citizens remains the top priority of the legislature. He directed the committee to expedite its investigation and report back with actionable recommendations within four weeks.

The outcome of the investigation is expected to shape future government strategies in the agricultural sector, especially in light of Nigeria’s ongoing economic challenges and the need to ensure food security for its growing population.