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    MarketForces Africa » MarketForces News » Senate Urges FG to Introduce Food Stamps
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    Senate Urges FG to Introduce Food Stamps

    Julius AlagbeBy Julius AlagbeFebruary 28, 2024No Comments2 Mins Read
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    Senate Urges FG to Introduce Food Stamps
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    Senate Urges FG to Introduce Food Stamps

    The Senate has urged the Federal Government to introduce the Nigerian version of the “food stamps programme” as an interim intervention to cushion the effects of food shortages in the country.

    This followed the adoption of a motion on “The Introduction of Food Stamps in Nigeria as an Interim Measure to Address Imminent Food Insecurity in the country”, by Sen. Ali Ndume, the Senate Chief Whip at plenary.

    Presenting the motion, Ndume said that in other countries, like U. S, food stamps was government-issued coupons that had been in use since 1939.

    “This is as a measure to cushion the resultant hardships and sufferings on the poor/less privileged as well as low-income earners,” he said.

    He expressed concerns over the October Cadre Harmonise Analysis on food insecurity which projected that in 2024, Nigeria was expected to see about 26.5 million people grappling with high levels of food insecurity.

    The lawmaker said the reason for the above projection was not far-fetched as several indicators which included but were not limited to the ongoing conflicts across the country and climate change impacts.

    Ndume said that many hungry and angry Nigerians had been expressing their frustration and anger over the recent increase in food prices by demonstrating on the streets in several cities across the country.

    He said that the clamour for a wage increase and work support could not alone guarantee a more effective way of addressing food insecurity without the introduction of a time-tested public assistance programme.

    In his contribution Sen. Solomon Adeola (APC-Ogun) called for the deployment of modern technology to curb abuses. “The question is how do we achieve this for over 200 million population, a data must be in place to ensure that the real vulnerable Nigerians get it,” he said. #Senate Urges FG to Introduce Food Stamps

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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