x

FG Addresses Food Inflation, Predicts Price Drop

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured Nigerians that food prices will decline in the coming months. Edun explained that the government has allocated special funding for infrastructure to boost agricultural output, focusing on increasing food production through the provision of seeds, fertilizers, and other resources.

Edun acknowledged that food insecurity is a global issue but emphasized that the Nigerian government is taking steps to address it. He stated, “We can expect that food prices will come down and food availability will increase. Inflation, yes, it is high at 33.65%, and food inflation at 40.5% is worrisomely high. However, inflation is coming down month-on-month. It is slowing and is expected to reduce as we continue the dry season harvest and then move into the wet season harvest.”

The minister highlighted that the government is placing significant emphasis on agricultural output to help lower food prices, which in turn will be a major factor in reducing overall inflation.

In recent weeks, Nigerians have faced skyrocketing food and commodity prices amidst an economic crisis triggered by the government’s policies of petrol subsidy removal and unification of forex windows. Despite these challenges, the government’s efforts to increase food production and infrastructure investment aim to alleviate the economic strain on citizens and stabilize prices in the near future.

Hot this week

Langtang North Authorities Intercept Expired Products, Drugs

By Israel Adamu, Jos Several fake and expired products were...

Kaduna: Bandits Kill Eight, Injure 20, Kidnap Several in Kachia LGA

By Achadu Gabriel, Kaduna Suspected bandits have reportedly killed eight...

FG Adopts Funding Prioritization Framework for NNPCL Tax Credit Projects

By Jabiru Hassan The Federal Ministry of Works has adopted...

Speaker Abbas Moots Africa-Asia Trade, Investment Frameworks at Parliamentary Conference

...presents scorecard on gender inclusion, AI regulation bills, others By...

Resident Doctors to Decide on Nationwide Strike as Ultimatum Expires

The Nigerian Association of Resident Doctors (NARD) will today...

CROSSJOF Hails Hon. Nyiam As Champion of Fight Against Illicit Drug Abuse in Boki LGA

By Joyce Remi-Babayeju Cross River State journalists in Abuja under...

NCPC To Commence 2025 Easter Pilgrimage Exercise To Israel, Jordan

By Joyce Remi-Babayeju The Nigerian Christian Pilgrim Commission, NCPC, is...

Alhaji Saleh Zazzaga Celebrates Gov. Mutfwang’s Ally Yari Kumchi on Birthday

By Israel Adamu, Jos Chairman of the North Central APC...

Ministry of Interior Honours Retirees for Outstanding Service

The Permanent Secretary, Ministry of Interior, Dr. Magdalene Ajani,...

Kano Gov Moves to Empower 44 LGAs with Full Autonomy

By Jabiru Hassan Kano State Governor, Alhaji Abba Kabir Yusuf,...

FG Assures AFGSAN of Support to Boost Food Security

By Francis Wilfred The Federal Government has assured the Amana...

NASENI-PICTT Launches DELTA-2 Second Call for Proposals

…As FG Insists on Commercialization of R&D Results to...

Related Articles

Popular Categories

spot_imgspot_img