The Senate on Tuesday passed for second reading a bill proposing the establishment of a National Food Reserve Agency, aimed at addressing post-harvest issues and mitigating the impact of climate change.
The bill, sponsored by Senator Salihu Mustapha (APC, Kwara Central), seeks to create a legal framework for maintaining buffer stocks to stabilize food prices and enhance food security.
During his lead debate, Senator Mustapha explained that the agency would be responsible for storing food grains and other commodities for strategic purposes. “The National Food Reserve Agency, when established, will facilitate the creation and maintenance of buffer stocks to ensure price stabilization and food security,” he said.
He added that the ongoing food price hikes could have been mitigated if the country had an agency in place to regulate and stabilize food supply through buffer stock maintenance.
The bill was subsequently referred to the Senate Committee on Agriculture for further legislative review, with a report expected in four weeks.
