The Senate has approved for second reading the bill to establish the National Food Reserve Agency, aimed at ensuring national food security and stabilizing food prices in Nigeria.
The bill, sponsored by Senator Saliu Mustapha (APC, Kwara Central), is seeking to develop the agricultural sector by implementing strategic food reserves to address emergency food shortages and ensure a stable supply of essential commodities.
In his presentation, Senator Mustapha highlighted the need for a dedicated agency to coordinate agricultural development programs and manage food reserves. He stressed that the agency would help stabilize food prices, benefiting both farmers and consumers by maintaining buffer stocks of grains and other key commodities.
“The National Food Reserve Agency will ensure price stabilization and secure food availability during crises,” Mustapha said. “By constructing and managing silos and warehouses, it will also help reduce post-harvest losses and maintain a steady supply of food.”
The bill also aims to facilitate collaboration between states and national and international agencies in managing food reserves. According to Senator Mustapha, the agency will implement policies to address local food supply shortfalls and provide guidelines for establishing and maintaining buffer stocks across the country.
Following the second reading, the Senate referred the bill to its Committee on Agriculture for further review, with a report expected within four weeks.