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FG Projects Massive Food Price Crash by January 2025

FG Projects Massive Food Price Crash by January 2025 | Daily Report Nigeria

 

The Federal Government has announced that it expects a significant crash in food prices nationwide within the next 180 days, following the implementation of strategic measures aimed at addressing the high food prices.

According to the Minister of Agriculture and Food Security, Abubakar Kyari, the measures include the suspension of duties, tariffs, and taxes for the importation of certain food commodities through land and sea borders, as well as the importation of 500,000 metric tonnes of wheat and maize.

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“Our administration has unveiled a series of strategic measures to address the high food prices currently affecting our nation. These measures will be implemented over the next 180 days,” Kyari announced on his official X handle on Wednesday.

He explained that the imported food commodities would be subjected to a recommended retail price to maintain the required and acceptable standard.

The Minister added, “We understand concerns about the quality of these imports, especially regarding their genetic composition. The government assures that all standards will be maintained to ensure the safety and quality of food items for consumption.”

READ ALSO: ECOWAS Court Fines FG N6 Million for Human Rights Abuses During #EndSARS Protest

 

The government’s plan also includes ramping up production for the 2024/2025 farming cycle, supporting smallholder farmers during the ongoing wet season farming, strengthening and accelerating dry season farming nationwide, and collaborating with sub-national entities to identify irrigable lands and increase land under cultivation.

 

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ECOWAS Court Fines FG N6 Million for Human Rights Abuses During #EndSARS Protest | Daily Report Nigeria

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