PRESIDENCY REFUTES CLAIM THAT THE PRICE OF FOOD ITEMS IN NIGERIA IS ON THE INCREASE
The Presidency has refuted claims that the price of food items across the nation is on the increase.
Presidential Spokesman, Garba Shehu, made this known to Channels TV on Friday, September 11th, 2020.
This is coming after the National Bureau of Statistics said that the prices of food commodities in Nigeria have hit a 15.03 percent increase, for the first time in two years.
This rise in price can be attributed to the impact of the Coronavirus pandemic.
The NBS also reported that Nigeria’s annual inflation rate rose to 12.34 percent in April, from 12.26 percent recorded in March.
This surge indicates that the lockdown imposed by the COVID-19 pandemic in Abuja, Lagos and Ogun States led to the surge in food prices.
Also, the NBS reported that the prices of food items experienced an exponential increase in in Zamfara, Kogi and Yobe states in Nigeria in July
According to the report, there was massive inflation of food price in Zamfara at 3.40 percent , Kogi at 3.32 percent and Yobe at 3.00 percent in July.
Shehu however revealed that the reduction in the price of food items originates from President Buhari’s transformation in the Agricultural sector.
Recall that President Buhari on Thursday, September 10th, 2020, said his administration has prevented a food crisis amid the Coronavirus Pandemic in Nigeria.
He stated that even though prices may vary depending on the State and region, there is a drop in prices of food items.
The Presidential Spokesman said that the President’s directive that the Central Bank of Nigeria (CBN) should stop the release of money for food and fertilizer importation is for the best interest of the country.
Read Also: WE HAVE BEEN ABLE TO PREVENT FOOD CRISIS AMID COVID-19 PANDEMIC - PRESIDENT BUHARI
He said, “Nigerians must give consideration for the fact that the President’s directive to the CBN is driven by nothing other than a patriotic motive”.
Shehu added the President’s directive aligns with his vision to boost Agriculture in the country.
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