Senate Approves National Food Reserve Plan to Stabilise Prices

The Senate has approved a package of agricultural reform bills, headlined by a national food reserve framework aimed at stabilising prices and strengthening Nigeria’s food system. The measures, which also target cassava utilisation and rice sector coordination, are designed to reduce dependence on imports while boosting local production across the agricultural value chain. Presenting the […]

The Senate has approved a package of agricultural reform bills, headlined by a national food reserve framework aimed at stabilising prices and strengthening Nigeria’s food system.

The measures, which also target cassava utilisation and rice sector coordination, are designed to reduce dependence on imports while boosting local production across the agricultural value chain.

Presenting the committee reports at plenary, Chairman of the Senate Committee on Agricultural Production Services and Rural Development, Saliu Mustapha, said the legislation would drive food security and create jobs.

He said the reforms align with the policy direction of President Bola Ahmed Tinubu, particularly efforts focused on economic diversification and self-sufficiency.

At the core of the package is the National Food Reserve Agency Bill, which provides for a coordinated system of grain storage and strategic reserves to cushion supply shocks and moderate market prices.

Lawmakers also backed a mandatory cassava inclusion policy, requiring flour millers to incorporate a minimum of 20 per cent cassava content, a move expected to reduce Nigeria’s reliance on imported wheat.

On rice, the Senate highlighted the country’s heavy import burden, estimated at about $2 billion annually, describing it as unsustainable.

To address this, it approved the establishment of a National Rice Council Board to coordinate production, processing and distribution nationwide.

“The goal is to build a full agricultural value chain, from farm to reserve, to processing,” Mustapha said.

He added that the reforms would strengthen domestic capacity, improve food availability and support economic stability.

The bills, having been passed by the Senate, will be transmitted to the House of Representatives for concurrence before being forwarded to the President for assent.