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

Why Seyi Tinubu Can’t Be Lagos Governor- Igbokwe

A member of the All Progressives Congress (APC), Joe Igbokwe, has said Seyi Tinubu, son…

8 hours ago

Simon Ekpa Not Our Member, Should Not Be Associated With Us- IPOB

IPOB PRESS RELEASE 22/11/2024 SIMON EKPA IS NOT AN IPOB MEMBER AND MUST NOT BE…

11 hours ago

NEWSPAPER HEADLINES FOR FRIDAY 22ND NOVEMBER 2024

NEWSPAPER HEADLINES FOR FRIDAY 22ND NOVEMBER 2024. *PUNCH* Gombe begins N28bn Assembly, high court complexes…

12 hours ago

My husband assaulted me, ruined my career – Olajumoke Onibread

Former bread seller turned model, Olajumoke Orisaguna, popularly known as Olajumoke Onibread, has opened up…

14 hours ago

“I did not punch Akpabio” – Senator Bamidele speaks on alleged fight with Senate President

Senate Majority Leader, Opeyemi Bamidele has denies reports that he was involved in a fight…

15 hours ago

Speaker Obasa Clarifies Negative Perceptions As Sanwo-Olu Presents 2025 Budget

– says lawmakers united to meet yearnings of Lagosians – accuses detractors of peddling news…

15 hours ago