National Buffer Stock Company to face parliamentary probe over funding, storage challenges - Dr Seidu Jasaw

Parliament’s Agric Committee has pledged to investigate challenges at the National Food Buffer Stock Company (NAFCO) amid concerns over inadequate funding and substandard storage facilities.

Speaking in an interview on Citi FM on Wednesday, March 19, 2025, the Chairman of the Agric Committee, Dr Godfred Seidu Jasaw, disclosed that he had visited NAFCO’s headquarters and engaged with its new CEO, Mr Otu, to discuss the issues confronting the organisation.

He revealed that NAFCO requires about GHS 700 million to operate effectively but has struggled with chronic underfunding.

He also noted that many of its warehouses do not meet minimum food storage standards, and for nearly a decade, the company has focused more on storing imported food rather than purchasing and preserving surplus produce from local farmers.

Dr. Jasaw criticised the management of NAFCO in recent years, arguing that it has not fulfilled its mandate.

He explained that the buffer stock system was originally designed to stabilise food prices by purchasing surplus crops from farmers at guaranteed prices, storing them, and releasing them into the market when needed. However, poor planning and mismanagement have rendered this ineffective.

“In the last few years, the Ministry of Agriculture did not prioritise the buffer stock system. Instead, NAFCO had to rely on its own initiatives, such as the school feeding programme, to stay afloat. This is a complete deviation from its intended purpose,” he said.

Dr Jasaw assured that the Agric Committee will summon key officials, including representatives from the Ministry of Agriculture and NAFCO, to provide explanations about the company’s operations.

He stressed that Ghana cannot continue to depend on food imports while local farmers struggle to sell their produce.

He called for a restructuring of NAFCO to ensure it meets its core mandate of food security and price stability.

“NAFCO must be revamped to function effectively. If we continue down this path, we will spend more on food imports instead of supporting local production,” he warned.

Dr. Jasaw added that the Agric Committee will demand greater accountability in the management of buffer stock funds and push for improvements in storage infrastructure, increased local food purchases, and a long-term strategy to secure Ghana’s food supply.