The forum, after an urgent online meeting on Tuesday about the worsening food crisis and security issues, highlighted the need for quick actions to deal with rising food prices, the falling value of the naira, and increased insecurity. This meeting came after updates from the National Security Adviser, Nuhu Ribadu, and the Department of State Services about the growing difficulties caused by higher prices and more violence.
The governors, led by the NGF chairman, decided to lower the demand for foreign money by encouraging people to use less imported goods and services. They also want to increase the availability of foreign money by making it easier to export goods, improving the export process for commodities, and producing more crude oil.
The governors emphasized looking at the problems of food prices, the naira’s value, and security together. They proposed quick talks and working closely with all involved to improve the situation quickly. Their plans include:
- Lowering the demand for foreign currency by encouraging people to rely less on imports.
- Increasing the supply of foreign currency by simplifying the export process, stopping the illegal export of minerals, and boosting oil production.
- To fight the illegal mineral trade, they called for better enforcement of laws.
- The governors also want to update criminal justice laws to deal with criminals faster.
To help with enforcement, they plan to support the National Security Adviser’s office to improve intelligence gathering.
As a temporary solution, they promised to start emergency food programs, give incentives for producing food, and release supplies from food reserves. They also plan to work with food processors and traders to make more food available quickly.