Senate Approves National Food Reserve Plan for Nigeria

The Nigerian Senate has approved a National Food Reserve Plan designed to stabilize food prices and reduce the country's dependence on imports. The plan, presented in a committee report by Saliu Mustapha, Chairman of the Senate Committee on Agriculture, aims to boost local agricultural production across the value chain.

It includes a mandatory policy requiring flour millers to incorporate a minimum of 20% cassava content in their products, which is expected to decrease Nigeria's reliance on imported wheat and rice, addressing an estimated $2 billion annual import burden. The bill also proposes the establishment of a National Rice Council to coordinate production and distribution nationwide, with the goal of building a complete agricultural value chain.

The Senate emphasized the need for reforms to strengthen domestic capacity and improve food availability, supporting economic stability. The bill will be transmitted to the House of Representatives for concurrence before being forwarded for presidential assent.