July 13, 2024

Inflation: Nigerian Govt. vows to suppress food prices in 180 days

The Nigerian Minister of Agriculture and Food Security, Abubakar Kyari, has promised that food prices will significantly decrease within the next 180 days.

This assurance comes in response to recent protests against hunger and food insecurity across the country.

In a statement on his official social media handle on Wednesday, Kyari outlined a comprehensive plan to address food prices, which will be implemented over the next six months.

The Minister of Agriculture and Food Security, Abubakar Kyari, earlier announced that the government has put in place a set of strategic initiatives to tackle the high food prices affecting the country.

These measures, which will be implemented over the next 180 days, include the introduction of a Recommended Retail Price (RRP) for imported food commodities, aimed at controlling prices and providing relief to consumers.

He said, “We understand concerns about the quality of these imports, especially regarding their genetic composition. The government assures that all standards will be maintained to ensure the safety and quality of food items for consumption.

“The Federal Government will import 250,000 metric tons of wheat and 250,000 metric tons of maize. These semi-processed commodities will be supplied to small-scale processors and millers across the country.

“Engagement with relevant stakeholders to set a GMP and purchase surplus food commodities to restock the National Strategic Food Reserve.

“Embarking on aggressive agricultural mechanization to reduce drudgery, lower production costs, and boost productivity.”

He stressed that the ministry “will ensure that information is publicly available to facilitate the participation of all relevant stakeholders across the country.”

 

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