FG fails to crash food prices 180 days after promise
Other measures included importing 250,000 metric tons of wheat and maize, engaging stakeholders to set a Guaranteed Minimum Price (GMP), and purchasing surplus food commodities to restock the National Strategic Food Reserve. However, it appears that these efforts have not yielded the desired results, and food prices remain high. The Federal Government's promise to crash food prices within 180 days seems to have fallen flat. Back in July 2024, the Minister of Agriculture and Food Security, Sen Abubakar Kyari, unveiled a plan to reduce food prices by suspending duties, tariffs, and taxes on food imports, including maize, rice, wheat, and cowpeas, for 150 days
Other measures included importing 250,000 metric tons of wheat and maize, engaging stakeholders to set a Guaranteed Minimum Price (GMP), and purchasing surplus food commodities to restock the National Strategic Food Reserve. However, it appears that these efforts have not yielded the desired results, and food prices remain high
The government's failure to deliver on its promise has likely exacerbated the food security challenges faced by many Nigerians. As the Minister noted, the success of these measures depends on cooperation from all relevant stakeholders ¹. It remains to be seen what the government's next steps will be to address the ongoing food price crisis.
The government's failure to deliver on its promise has likely exacerbated the food security challenges faced by many Nigerians. As the Minister noted, the success of these measures depends on cooperation from all relevant stakeholders ¹. It remains to be seen what the government's next steps will be to address the ongoing food price crisis.
https://guardian.ng/news/fg-fails-to-crash-food-prices-180-days-after-promise/