The federal government has voiced worry over the continued rise in food and commodity prices, which has sparked protests in Niger and Kano.
Olawale Edun, the Minister of Finance and Coordinating Minister of the Economy, met with a visiting German team led by the country’s Minister of Economic Cooperation and Development (BMZ), Svenja Shulze, on Monday in Abuja.
According to the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, Edun said, “I think the issue of rising prices is of concern to the government and everybody in Nigeria,” and some major steps were being taken to address the situation.
He said, “It is the issue of demand and supply and a lot of emphasis has been placed on increasing agricultural production, in particular.
“The president has intervened in that sector to provide grain, fertilisers to farmers and to bring additional acreage, rice, wheat, maize, and cassava – to increase the output and thereby bring down prices and that will help bring down inflation.
“And, of course, we are in the middle of the dry season farming and we are looking forward to a good dry season harvest that will ameliorate price, in particular, and the price level in Nigeria, in general.”
