Inflation, naira depreciation, insecurity: Governors seek urgent action

Nigerian governors under the umbrella of the Nigeria Governors’ Forum (NGF), have called for urgent discussion among stakeholders to address food inflation, naira depreciation, and rising insecurity across parts of the country.

The governors made the call in a communiqué issued on Thursday by their chairman, Gov. AbdulRahman AbdulRazaq of Kwara, after its emergency virtual meeting.

According to AbdulRazaq, members of the forum deliberated on the security situation and food stability in the country.

He said that the governors at the meeting were briefed by the National Security Adviser, Malam Nuhu Ribadu, and the representative, Director-General of the Department of State Service.

”We all agreed that it is important to address the connection between food inflation, naira depreciation, and rising insecurity across parts of the country from a systemic perspective.

”The governors also agreed on immediate actions, including reduction of foreign exchange demand by use of moral persuasion to reduce dependence on foreign exchange, imported goods, and services,” he said.

Others, he said, included improving foreign exchange supply by easing commodity export requirements to encourage the exportation and supply of foreign exchange.

He further said that such immediate action should also be achieved by curbing the illegal export of solid minerals and increasing crude oil production to earn more foreign exchange.

He said there was a need to support improved enforcement efforts: by reviewing the extant criminal justice laws in the states to ensure quick dispensation of justice to perpetrators of insecurity in the states;

“We pledged support to the office of the National Security Adviser in the states to enhance the nature and quality of intelligence,” he said.

AbdulRazaq reiterated the governors’ commitment to deploy emergency food interventions, including incentives, food production, and the release of food items from strategic reserves.

He also said that the governors agreed to collaborate with food millers and commodity traders in their various states to boost food availability as an immediate short-term action.


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