The House of Representatives has appealed to the Federal Government and all critical stakeholders to immediately open up the national food reserve and complement by exploring the importation of Grains, Poultry Products, Meats, Beverages, Healthcare and Pharmaceutical Products From The Top Exporting Countries In The World As A Short-Term Measure to reduce the rising cost of living in Nigeria.
The move followed the adoption of a Motion of Urgent National Importance on the Urgent Need For Government Action To Reduce The Cost Of Living, sponsored by Hon Isiaka Ayokunle.
The motion called for increased food production and improved distribution, including through ensuring adequate access to fertilizers and crop diversification.
” Increasing trade financing and reinforcing supply chains as a vital tool to addressing the current cost of living price shocks. Embark upon high-impact measures, such as investing in new crop varieties, improving water management, and information dissemination.
“Appeal to Manufacturers, Producers, Middlemen, the Sellers of Goods and Services and other relevant stakeholders, to temper justice with mercy and to be very realistic in the aggressive manners at which incessant prices are placed astronomically on goods and services.
“Especially, items that are not dependent on the foreign exchange.(e,g, 100% of Raw Materials for Cement are sourced locally)
Leadership of the House to begin in earnest, the planned Summit with the theme: “SECURITY AND ECONOMIC DEVELOPMENT,” the motion said.
Leading the debate on the motion, Hon Isiaka said that he notes the cost of living, which has been a pressing issue for many citizens around the world, and the situation has only worsened in recent times.
“The impact it has on individuals and families and the urgent need for government intervention to bring down the cost of living in Nigeria.
Also note the skyrocketing expenses such as housing, food, healthcare, and education, all of which have seen significant increases in prices. The current inflation has eroded the purchasing power of individuals with higher prices for goods and services. Stagnant wages and limited job opportunities has also further exacerbate the financial strain on individuals and families, making it increasingly difficult to make ends meet,” he said.
He also said that “Aware that impact of rising cost of living is particularly severe for low-income households, who are forced to make difficult choices between basic necessities. The financial burden has also led to increased levels of stress and anxiety, contributing to a decline in overall well-being of the Nigerian citizens. Furthermore, the high cost of living hinders economic mobility, making it challenging for individuals to save for the future or invest in their education and career advancement.
“Also aware that as at date, Poultry Meat is one of the most traded products in the world, the top exporters of Poultry Meat are Brazil United States and other countries that Export Beef in the World are; Japan Frozen Bovine Meat Exports, Republic of Belarus Frozen Bovine Meat Exports, Republic of Nicaragua, Netherlands, Republic of Poland, Republic of Ireland, Canada and Republic of Paraguay.
“Despite its current export restrictions, India remains the world’s largest rice exporting country with other major rice exporters that include Thailand, Vietnam, Pakistan, the United States, China, Burma, and Cambodia. These eight countries account for about 90 percent of the total volume of annual global rice exports.
” Convinced that the various radical policies and approaches of the government are not only necessary but, compulsory to propel the nation into the new era of robust economy, improved standard of living and emergence of Nigeria as an economic destination of the world. But, the caveat is, the gestation period that has to come with unbearable hardship.
“Truly, incisions of a tribal mark is associated with pains and only when it heals that the beauty radiates. Roasted dog can be very sweet when it is well dried, but what does one eat before the dog is dried. The fowl has currently perched on a rope; the rope is not at peace and the fowl is not also at peace. Water inside the bath we are carrying is half full and both the bath and the head are shaking. (Apparently referring to the governing and the governed).
” Cognizance of the fact that adding food crises, uncontrolled rising cost of living and the spate of insecurity challenges reverberating across the nation, will be tantamount to unprecedented humanitarian challenge that requires rapid action to ease suffering of those without enough to eat, due to the current severe economic challenges, weak institutions and fragility.
“Worried that alongside human toll, the financial costs are also escalating energy—prices has fueled a cost-of-living crisis that is likely to increase poverty and hurt growth, potentially fueling instability. Strong and swift policy action is needed to mitigate the food crisis, cost of living and human suffering,” the motion said.
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