Inflation: Food prices will crash in 180 days- Minister

The Minister of Agriculture and Food Security, Abubakar Kyari, has assured that food prices would crash in 180 days.

This is coming after several Nigerians had hit the streets to protest hunger in the nation.

Kyari made this known in a post on his official X handle on Wednesday, unveiling measures that will be implemented over the next 180 days.

According to him, the current administration had unveiled a series of strategic measures aimed at addressing the high food prices currently affecting our nation, stressing that the measures will be implemented over the next 180 days

The minister said that Imported food commodities would be subjected to a Recommended Retail Price, RRP.

“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 said.

Kyari further explained that the next 14 days, in close collaboration with the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT), they would convene with respective agencies to finalize the implementation frameworks.

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

Leave a Reply

Your email address will not be published. Required fields are marked *