Politics

Tinubu Govt Speaks On Food Inflation, Discloses When Prices Will Drop

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has promised Nigerians that food prices will drop in the coming months.

Edun explained that the government has dedicated special funding for infrastructure to boost agriculture output.

 

Advertisement

He noted that food insecurity is a worldwide phenomenon.

Speaking during an appearance on Channels Television’s Sunday Politics programme, Edun asserted that government focus has been on ramping up food production through the provision of seeds, fertilisers, amongst others.

Advertisement

The minister assured Nigerians that with the dry season and wet season harvest, food inflation will come down.

He said, “We can expect that food prices will come down and food availability will increase.

Advertisement

“Inflation, yes, it is high at 33.65%, food inflation at 40.5% is worrisomely high but the fact is that inflation is coming down, month-on-month. It is slowing and it is expected to reduce as we continue the dry season harvest and then we go into the wet season harvest.

“That is the place to focus on and a lot of emphasis is being placed on that to get agriculture output up, to get prices down, and that will be a nig factor in bringing down inflation.”

Advertisement

Prices of food and basic commodities have gone through the roof in the last weeks, as Nigerians battle economic crisis sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows.

Advertisement
citynews

Recent Posts

Breaking: FIRS Announces Fresh Recruitment, See Eligibility Criteria, Application Deadline

The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to…

4 hours ago

Primate Ayodele’s Prophecies For 2025

Primate Elijah Ayodele Unveils 94-Page Prophecy for 2025, Makes Striking Predictions About Nigeria’s Political and…

6 hours ago

Tinubu’s Aide Condemns Plan To Reinstall ‘Jesus Is Not God’ Banner In Lekki Mosque

The Senior Special Assistant to President Bola Tinubu on Community Engagement (North Central), Abiodun Essiet,…

9 hours ago

President Tinubu’s reforms not responsible for food stampedes – FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

9 hours ago

I will be more influential in Nigeria than UK – Tobi Adegboyega

Tobi Adegboyega, founder of the Salvation Proclaimers Anointed Church (SPAC Nation), has stated that he…

9 hours ago

Petrol To Sell ₦‎935/Litre From Today – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell…

9 hours ago