Business
Finance Minister Promises Affordable Food and Lower Inflation Under Tinubu’s Government
Finance Minister Wale Edun has assured that President Bola Ahmed Tinubu’s administration is committed to ensuring that food remains both available and affordable for Nigerians.
Speaking at the National Economic Dialogue 2024 organized by the Nigerian Economic Summit Group in Abuja on Wednesday, Edun emphasized the government’s dedication to continuing the trend of decreasing inflation rates.
Despite Nigeria’s 25 years of democratic governance, Edun acknowledged that the nation’s economy remains on a growth trajectory. He highlighted the administration’s focus on not only sustaining but accelerating progress in this area.
“While democracy is not the sole method for organizing a society, it is widely regarded as the most effective. We are continually striving to enhance our democratic practices, and today’s dialogue represents a step in that direction,” Edun remarked.
The Minister noted that there has been a reduction in inflation, with recent data from the National Bureau of Statistics indicating a drop to 33.40 percent as of July. This decline is a positive sign, and the government is determined to maintain this downward trend in inflation, particularly concerning food prices.
Edun reiterated that making food more accessible and affordable is a key priority for the administration in the short term. However, despite these efforts, many Nigerians continue to face economic hardships due to high prices for goods and services.
The government’s ongoing commitment is to address these challenges and improve economic conditions for citizens.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.
“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”
It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.
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