- Despite the drop in Nigeria’s inflation rate, food prices have continued to increase, causing untold hardship across the nation
- President Buhari has disclosed that middlemen are responsible for this as they keep creating artificial shortages for personal gain
- To address the continued rise in food prices, the Nigerian leader has tasked the agriculture ministry to collaborate with other agencies
Middlemen are to blame for the high prices of food in the country, according to President Muhammadu Buhari.
During his nationwide broadcast to mark Nigeria's 61st Independence anniversary on Friday, October 1, the president said middlemen have created “artificial shortages” through the hoarding of essential commodities just to get excessive profit.
The Nigerian leader stated:
"Unfortunately, as our food production capacity has increased, food prices have been going up due to artificial shortages created by middlemen who have been buying and hoarding these essential commodities for profiteering."
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The way forward
To solve this problem, President Buhari has directed the Ministry of Agriculture and Rural Development to rehabilitate the National Food Reserve Agency.
The ministry is to also collaborate with security agencies, the Nigerian Commodity Exchange, and the National Assembly to find a lasting solution to these hoarding activities which the president described as disruptive and unpatriotic.
According to the Nigerian leader, the agricultural sector remains the key to the country’s economic diversification.
He added that to further enhance food production, several new dams have been completed while several River Basin Development Authorities are undergoing rehabilitation.
'Buhari Must Go' protesters demonstrate in Abuja
Meanwhile, some aggrieved Nigerians who took to the streets of Abuja on Friday, October 1, to protest against the current administration led by President Muhammadu Buhari were dispersed by security operatives.
The heavily armed policemen fired tear gas canisters as they gave the protesters a hot chase.
The protesters had converged at Dantata bridge along the Nnamdi Azikiwe International Airport road in the nation's capital where they planned to begin their demonstrations when the police arrived.
The protesters were said to be holding placards while chanting “Buhari Must Go.” Among their grievances are the continuous increase in the price of staple foods as well as the rise in insecurity across the country.