Presidential aide, Garba Shehu says food prices are coming down

Presidential aide, Garba Shehu says food prices are coming down

- President Buhari’s media aide, Garba Shehu has said prices of food items in the country are already dropping

- Shehu made the statement on Friday, September 11, when he spoke on a TV programme

- The presidential aide backed the president’s directive to CBN not to release money for food importation

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President Muhammadu Buhari’s media aide, Garba Shehu has said prices of food items in the country are already dropping.

Shehu made the statement on Friday, September 11, when he spoke on Channels TV programme, Sunrise Daily programme.

Presidency aide, Garba Shehu says food prices are coming down

Garba Shehu has said the agricultural reforms of Buhari have caused the prices of food products to reduce. Photo Credit: Channels TV/ Nairaland Forum
Source: UGC

The presidential aide said the prices of food products were reducing due to the agricultural reforms of President Buhari.

According to Shehu, experts who recently surveyed the markets found out that the prices of some food items had reduced.

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He disclosed that millets that had gone up to N24,000 have now gone down to between N12,000, and N13,000, while rice that had been N25,000 is now N20,000.

The aide stated that corn, maize is now N18,000 for the old stock and N14,000, N15,000 for the new stock.

He dismissed the suggestion that the cost of food items was connected to the closure of the borders.

Shehu also spoke in favour of the president’s directive that the Central Bank of Nigeria (CBN) not release money for food and fertiliser importation henceforth.

He disagreed with a senior lecturer in the department of economics, University of Abuja, Ahmed Adamu, who faulted the timing of the policy.

Shehu said that the move by President Buhari was action borne out of patriotism.

Meanwhile, rice farmers in Kebbi state say they may not be able to repay the loan given to them by the Central Bank of Nigeria (CBN) and state governments as a result of the massive flood that destroyed their farms.

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According to The Nation, the rice farmers association in the northern state are now appealing to the CBN and state government to assist them by suspending the anchor borrower’s loan repayment from 2021 to 2022.

Legit.ng gathered that the appeal was made by the chairman of the association, Shehu Abubakar-Zaki, in Birnin Kebbi on Thursday, September 10.

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