Food security in Nigeria was threatened by the Naira redesigned policy introduced by the Buhari administration.This disclosure was made by the Minister of Agriculture and Food Security, Senator Abubakar Kyari at the joint committee of the National Assembly.

The Minister further disclosed how the Naira redesign policy, carried out by former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele threatened food security in Nigeria almost ran farmers in the country bankruptcy. 

Kyari made the disclosure when he appeared before a joint committee of the National Assembly (NASS) chaired by Senator Saliu Mustapha for the defence of his Ministry’s 2024 budget

In his presentation, the Agriculture Minister stressed the Naira redesign policy ran farmers bankrupt, adding that the focus of the his ministry’s 2024 budgetary proposals for the sector was to achieve food security in the country.

He said several factors, including insecurity and the naira redesign policy impoverished the farmers and severely threatened food security in the country.

“The cash crunch caused by the Naira redesign made most of the farmers sell their farm produce at giveaway prices for survival since buyers could not access cash to buy the produce from them.

“The policy, which coincided with the harvest season, ended up rendering the farmers empty financially,” he said.

In their separate remarks at the session, the lawmaker representing Toro Federal Constituency in Bauchi State, Dahiru Haruna; and the lawmaker for  Shomolu Federal Constituency of Lagos State, Ademorin Kuye, said there was an urgent need for the Federal Government to address the high rate of hunger in the country.