Minister inaugurates reconstituted NAFCO board
The Ministry of Food and Agriculture (MoFA) has inaugurated a nine-member governing board for the National Food Buffer Stock Company (NAFCO) to supervise the operations of the company and ensure its sustainability.
The Minister of Food and Agriculture, Eric Opoku, administered the oaths of office and secrecy to the new board members at a ceremony in Accra yesterday.
The board is chaired by a former Chief Executive Officer of NAFCO, Dr Eric Osei-Owusu, with the current CEO of NAFCO, George Abradu-Otoo, Ing. Joseph Charles Osei, Janet Chigabatia-Adama, Collins Mahama and Stephen Baffoe as members.
The rest are Daniel Atta-Kusi, Michael Ologo and Hajia Fati Benedicta Skido-Achulo.
NAFCO is a government-owned enterprise mandated to ensure a guaranteed minimum price and a ready market for farmers.
The new board is expected to work closely with NAFCO’s management to position the company as a more efficient and effective vehicle for maintaining price stability in the domestic market, in line with the government’s broader economic development policies.
Food reserve
Mr Opoku charged the board to operationalise the country’s food reserve system as a critical measure for price stabilisation and food security.
He stressed the need for proactive market interventions to protect both farmers and consumers.
The minister explained that although the country often had sufficient food during harvest season, prices fell so dramatically that farmers could not recover their investments, leading to discouragement and a decline in productivity in subsequent years.
“This is why we need buffer stocks to be operational, buying excess produce, storing them and maintaining moderate prices to keep farmers in business,” Mr Opoku added.
He explained that during the lean season, when food shortages occurred and prices spiked, the buffer stock system must release reserves to stabilise the market, thereby shielding consumers.
“So, buffer has a dual responsibility: ensuring the farmer is protected, and at the same time, ensuring the consumer is also protected,” Mr Opoku said.
He charged the board to live up to its mandate, adding that the 2025 budget had made allocations to support NAFCO to enable it to buy and stockpile food in readiness for future emergencies.
Commitment
On behalf of the board members, Dr Osei-Owusu expressed appreciation to the President, the Council of State and the sector minister for the confidence reposed in the board.
He reaffirmed the company’s commitment to support the government's agricultural modernisation and food security agenda.
Dr Osei-Owusu said the members were ready to steer the company towards greater national relevance, stressing that “we will not disappoint”.
The chairman said NAFCO’s mandate aligned closely with the government’s agricultural blueprint, particularly the Feed Ghana Initiative, which sought to boost productivity through improved seeds, fertilisers and sustainable practices.
“With adequate funding, improved facilities and trained manpower, the company is poised to assert its role as the state food security reserve and national aggregator.
This is how we intend to contribute towards the national reset agenda,” Dr Osei-Owusu added.
