Bag of rice now ₦20,000 — Presidency assures on food price reduction

Bag of rice now ₦20,000 — Presidency assures on food price reduction

Food: Bag of rice now N20,000, Presidency assures on price reduction

The presidency has assured that the prices of foodstuff across the country are gradually reducing.

The presidency through the Special Assistant of President Buhari on Media and Publicity, Garba Shehu, made this assurance while speaking in a programme on Channels TV, Friday, September 11.

While speaking on the recent directive President Buhari issued to the Central Bank of Nigeria to henceforth stop the release of forex for food and fertilizer importation, Shehu said Rice that had been ₦25,000 is now ₦20,000

Responding to a question from a senior lecturer in the Department of Economics, University of Abuja, Dr Ahmed Adamu, Shehu said, “To say the cost of food items is connected to the closure of the borders is absolutely wrong.

”And to say that the prices of food ain’t coming down, I think the scholar has detached himself from the market because we sat through the meeting of the National Food Security Council and we heard presentations by experts – people who had surveyed the markets.

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”As of yesterday (Thursday) in the morning of the meeting, go and check the index in markets.

”For instance in Kano, millets that had gone up to ₦24,000 has now gone down to ₦12,000, ₦13,000. Rice that had been ₦25,000 is now ₦20,000. Corn, maize is now ₦18,000 for the old stock and ₦14,000, ₦15,000 for the new stock.

“As the Germans say, if you want to get the best of the weather, open the windows. My suggestions to the journalists who sit and write all of these numbers is, send your correspondents to the streets, go to the markets and find out.

”I didn’t say that all of the prices, the changes had crashed completely. They are coming down because the harvested items are coming into the market.

”Prices are coming down, they will continue to go down as more and more food items are harvested. It’s a seasonal thing and we are going to see through this as well.”

READ ALSO: Food insecurity looms amid inconsistent rainfall patterns

But Dr Adamu expressed displeasure over the directive by the President.

“It is also a wrong time because we have not built the right infrastructure and not supplied the right agriculture facilities and we have not built the entire agriculture value chain. We are also facing insecurity and a lot of farmers have been displaced from their farms and they cannot produce much. And now the government is discouraging cheap importation from other countries. It is going to create a lot of food scarcity in the country.

“Now we are seeing a high rise in the prices of food items in the country and this measure is going to increase the prices of food items further at a time when we just came out of COVID-19 lockdown.” Adamu said.

Daily Times had reported that the current inconsistent rainfall patterns in the country may have a negative effect on food security, agricultural experts and farmers have warned.

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