The All Farmers Association of Nigeria (AFAN) has called on the federal government to establish Commodity Regulatory Boards as a measure to address the persistent rise in food prices across the country.
Mr. Femi Oke, Chairman of AFAN in the Southwest and Lagos State, appealed during an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos.
According to Oke, establishing commodity boards would benefit both farmers and consumers by stabilizing prices and managing market supply.
“Commodity boards are necessary to regulate the prices of major agricultural products in the market. Even during times of surplus, these boards can help by purchasing excess produce, preventing losses for farmers,” he said.
He added that such boards would serve the interests of both farmers and consumers.
“It would be a win-win situation. The government’s enforcement of commodity boards could help reduce food price inflation and contribute to food security,” Oke noted.
He recalled that previous administrations had implemented commodity boards, which helped control market prices at the time.
“For instance, during the administration of Governor Jakande in Lagos, a commodity board was established, and it contributed to price stability,” he said.
“We are calling for the reintroduction of these boards nationwide. The benefits will extend beyond farmers to consumers as well.”
Also speaking, Mr. Akin Alabi, an agriculture expert and co-founder of Corporate Farmers International, said the government cannot effectively regulate food prices without providing support to farmers.
“You can’t control commodity prices without offering input subsidies during the production stage,” he said.
Alabi emphasized that for commodity boards to function effectively, the government must invest in direct support for small-scale farmers.
“As someone who finances his farming operations, it is unrealistic for the government to set the price at which I sell my produce when it hasn’t subsidized my inputs,” he explained.
“If the government provides support, from seeds to other agricultural inputs, including funding, then it becomes more feasible to regulate prices.
“To make commodity boards work, there must be adequate funding and support for farmers, especially in promoting cash crop production for export.”
(Farmers Voice)
