Experts Seek Introduction Of Commodity Board To Control Inflation

According to the National Bureau of Statistics (NBS), the inflation rate rose to over 33.69 per cent in March 2024 compared to the 33.20 per cent in March 2023.

The NBS in its April 2024 Consumer Price Index Report indicates that: “In April 2024, the headline inflation rate increased to 33.69 percent relative to the March 2024 headline inflation rate which was 33.20 percent.

Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49 per cent points when compared to the March 2024 headline inflation rate.

“On a year-on-year basis, the headline inflation rate was 11.47 percent points higher compared to the rate recorded in April 2023, which was 22.22 per cent.

Dr Joseph Hussaini, a Gombe-based agronomist, said the introduction of commodity board was necessary to check inflation and address food insecurity in the country.

He said the board would stabilise food prices in the market and make things easier for the common man.

“Because the commodity board is not in place, traders unilaterally fix prices and nobody will query them,” he said.

Hussaini underscored the importance of enhancing farmer access to subsidised fertilisers, inputs and agricultural financing to check food inflation in the country.

“Lack price control of fertilisers and inputs resulted to high cost of food items,” he said, adding that other factors that trigger inflation included effects of climate change on crop production, poor extension services and high cost of transportation.

“The rainy season is critical to crop production, but the dry spell resulted to the lower yields at harvest and reduced supply to the markets.”

The expert also attributed the inflation to the land boarder closure by the previous administration which prevented smooth flow of trade between Nigeria and neighboring countries.

The trend, he said, resulted to the unprecedented surge in smuggling of food and essential commodities across the borders, and soaring inflation.

Also, Dr Salihu Adamu, an Agronomist in the Faculty of Agriculture, Federal University Dutse, stressed the need for the government to control prices of agricultural produce to tackle food inflation.

According to him, it is good for the government at all levels to be engaged at every stage of the agricultural value chain, to encourage productivity and improve farmer enterprising skills to achieve food sufficiency.

Adamu argued that providing subsidy to the farmers on inputs alone would not solve the problem and advocated proactive measures to regulate prices in the country.

“It doesn’t make sense for governments to invest huge sums in subsidising fertilisers and inputs  yet prices of food items soar after harvest.

Similarly, Dr Hassan Abdulrahman, a lecturer in the Department of Sociology, Bauchi State University Gadau, attributed the drop in food supply to insecurity in the country.

He said that security challenges resulted to drastic drop in food production and inflation.

Abdulrahman said that many farmers had been displaced in several communities thereby reducing the food producing capacity of the country.

“The fall in food production pushed prices further high, it raise concern about the safety and wellbeing of the farmers.

“The impacts of non availability of food, potentially lead to shortages in domestic markets and inflation,” he said.

On inflation control measures, Abdulrahman recommended adoption of improved farmer support services and sound disaster control programmes to mitigate flood, drought, pest infestation and post harvest losses.

He urged the governments at all levels to prioritise smart agriculture and irrigation programmes, to encourage productivity and enhance food security in the country.

To buttress the call, Hamisu Gumel, a media aide to Gov. Umar Namadi of Jigawa, said the state government had initiated viable irrigation schemes in line with its agriculture transformation programme.

He said the programmes are designed to upgrade irrigation infrastructure through mechanisation to accelerate crop production towards achieving sustainable food security programme.

“The ultimate goal is to position Jigawa as a hub for agro-industrial activities in Nigeria and West Africa within a short while”.

On his part, Ismaila Misili, Director-General Press Affairs, Government House, Gombe, said the state government had distributed assorted fertilisers to the farmers at 50 per cent subsidy for 2024 cropping season.

The gesture, he said would enhance farmer access to fertilisers and inputs to encourage productivity.

“Therefore, we are collaborating with the Federal Government and development organisations like the World Bank and African Development Bank (AfDB), to fast track implementation of viable agriculture development projects in the state,” said Misili.