- The daily increment in the cost price of food items has become the new normal in the country as traders decry the high cost of purchase of goods
- With the grappling economy, the current market condition in most parts of the country has transcended from a sorry state to a worse state
- In view of this, the federal government has announced its latest plan of putting smiles on the faces of Nigerians with a stimulus package that will crash food prices
The president through the minister of agriculture and rural development, Mohammed Abubakar, announced that all hands are on deck to ensure everything is set in bringing up a stimulus package that will crash food prices, Daily Trust reported.
The Minister made this disclosure in Abuja on Monday, November 15, during a familiarization tour of the Agricultural Research Council of Nigeria.
He said President Buhari was concerned about agriculture and was committed to seeing that people had “food to eat every single day to eat without struggles on their tables.”
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The minister said:
“We are doing everything possible to bring up some kind of stimulus that’ll cause reduction in food prices.
“Naturally, nobody will just sit and watch. We are doing what we can to see that the agricultural sector is improved and the food that we expect for the teeming population of Nigeria is being produced, the same thing with the livestock.”
He noted that Buhari had directed that research institutes in the country are well taken care of and that it was his priority to see improved capacity to conduct research so that crops could be improved upon.
He added that the government was set to reintroduce the Growth Enhancement Scheme (GES) a few years after it was scrapped.
“My own concern is to make sure that the input gets directly to the farmers, not being withheld by middlemen. We’ll do all it takes to make sure that the system that’ll be rolled out gets the input to the grass root farmers.”
Legit.ng weekly price check: Food prices soar in Lagos market, Beans Now 75k, 80K
Meanwhile, Legit.ng had earlier reported that following the inflation rate in the country in recent months, occasioned by the pandemic and worsened by insecurity, the present increment in the cost price of beans has become worrisome for both traders and the buyers in the state.
In Lagos state, some major markets which offer great prices to buyers daily, are not left out this period as they tend to suffer major blow in food availability as well as supply resulting to hike in the prices of goods they offer for sale.
At the market this week, there is hike in the cost price of goods. Some are increasing daily and others maintain stability in prices. Surprisingly, there’s a reduction in the cost price of garri, an item that was very expensive in previous market.