President Bola Tinubu announced a major initiative on Thursday, directing state governors to submit detailed plans to enhance food production within seven days. The announcement was made during the 142nd National Economic Council (NEC) meeting, attended by governors and some deputies at the State House in Abuja.
Tinubu unveiled a National Construction and Household Support Programme, which includes a range of financial aids and construction projects aimed at boosting the economy and providing relief to citizens. Key elements of the programme include:
1. **Household Grants**: 100,000 families in each state will receive a N50,000 grant for three months, amounting to N540 billion.
2. **Food Support**: N155 billion will be allocated for the distribution of assorted foods.
3. **CNG Buses**: Each of the 36 states and the Federal Capital Territory (FCT) will receive N10 billion for the procurement of CNG buses.
The total estimated cost of these initiatives exceeds N1 trillion.
President Tinubu emphasized the importance of accelerating food production, urging governors to collaborate and meet the needs of their citizens. He expressed his commitment to providing necessary support to alleviate hardships faced by Nigerians.
“We must deliver on our targets at all levels. Please report back following your consultations and submit it to my office within seven days,” Tinubu stated. “How much support do you need from me and in what form? I am prepared to provide it. But we must achieve the result.”
The President’s directive comes amid multiple economic challenges, including high inflation driven by fuel subsidy removal and exchange rate depreciation, which reached 27 percent year-on-year in October 2023. These economic pressures have intensified the cost-of-living crisis, making it difficult for Nigerians to afford basic necessities.
Despite significant policy reforms, such as the removal of fuel subsidies and exchange rate unification, the country continues to face issues related to poverty, stagnant per-capita growth, and a challenging business environment. These problems are further compounded by external factors like global food price increases and geopolitical uncertainties.
During the NEC meeting, President Tinubu outlined new plans to boost agricultural productivity and strengthen the economy by creating opportunities in agriculture, manufacturing, and construction. The immediate rollout of the National Construction and Household Support Programme will cover all geopolitical zones in the country.
Key infrastructure projects under the programme include the prioritization of the Sokoto-Badagry Highway, which will traverse several states including Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos. Other prioritized projects include the Lagos-Calabar Coastal Highway and the Trans-Saharan Highway.
The programme also includes full counterpart financing for the Port Harcourt-Maiduguri Railway and the Ibadan-Abuja segment of the Lagos-Kano Standard-Gauge Railway.
Special Adviser on Media and Publicity, Ajuri Ngelale, noted the significance of the Sokoto-Badagry Highway for its role in agricultural sustainability. The corridor includes 216 agricultural communities, 58 dams, seven Special Agro-Industrial Processing Zones, 156 local government areas, 39 commercial cities and towns, and over 1 million hectares of arable land.
Additional components of the programme include:
– One-off allocation of N10 billion to each state and the FCT for the procurement of buses and the CNG uplift programme.
– Delivery of N50,000 uplift grants to 100,000 families per state for three months.
– Deployment of N155 billion for the purchase and distribution of assorted foodstuffs nationwide.
President Tinubu, attending the NEC meeting for the first time, emphasized the importance of addressing food security and economic relief. The council also discussed the new minimum wage proposal, which had been deferred for further consultation with state governors.
Minister of Agriculture, Abubakar Kyari, announced a $1 billion agricultural mechanization programme to set up 1,000 agro-sector service providers with tractors, aiming to create job opportunities for 600,000 youths. Additionally, partnerships with John Deere, Tata, and Belarus Tractors will provide thousands of tractors and agricultural equipment over the next five years.
Kyari also revealed that Saudi Arabia has expressed interest in importing significant quantities of red meat and soya from Nigeria.
Governor Hope Uzodimma of Imo State reported that the NEC directed the sub-committee on crude oil theft to present comprehensive recommendations at the next meeting. Meanwhile, Governor Abba Yusuf of Kano State announced the constitution of the board of the Niger Delta Power Holding, which had been operating without a supervising board.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the activation of the Presidential Food Systems coordinating unit, chaired by Vice President Kashim Shettima, as part of the broader efforts to stabilize the economy and ensure food security.
