JUST IN: Prices of Food Will Crash in 180 Days – FG Declares

JUST IN: Prices of Food Will Crash in 180 Days – FG Declares
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The Federal Government has unveiled a plan to crash food prices within the next 180 days.

The plan was unveiled by Minister of Agriculture and Food Security, Sen Abubakar Kyari, on Wednesday.

According to Kyari, the government will suspend duties, tariffs, and taxes on food imports, including maize, rice, wheat, and cowpeas, for 150 days.

Additionally, 250,000 metric tons of wheat and maize will be imported and supplied to small-scale processors and millers nationwide.

The government will also engage stakeholders to set a Guaranteed Minimum Price (GMP) and purchase surplus food commodities to restock the National Strategic Food Reserve. Furthermore, the government will ramp up production for the 2024/2025 farming cycle, support smallholder farmers, and promote agricultural mechanization.

Other measures include strategic engagement with youth and women for greenhouse cultivation, collaboration with the Nigerian Military to cultivate arable lands, and promotion of fortified food commodities. A Ministry of Livestock Development has also been created to prioritize livestock development.

The Minister however said the success of these measures depends on cooperation from all relevant stakeholders.

He said, “The success of these measures hinges on the cooperation and collaboration of all relevant MDAs and stakeholders.

“As our nation confronts this critical food security challenge, I reiterate President Tinubu’s unwavering commitment to achieving food security and ensuring that no Nigerian goes to bed hungry.

“My team and I will work swiftly and diligently to actualize these crucial policies, ensuring food security for everyone in the immediate term while continuing our strategies for long-term interventions to address underlying causes and ensure sustainable and resilient food systems in Nigeria.”

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