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President Tinubu Approves Release Of 42,000 Tons Of Grains To Address ‘Rising Food Cost’

President Tinubu Approves Release Of 42,000 Tons Of Grains To Address ‘Rising Food Cost’
February 9, 2024

It had been reported that traders in Kogi State and Suleja in Niger State, which is a few kilometres away from the Federal Capital Territory, Abuja staged protests over the high cost of food items.

As part of temporary measures to address the rising food shortages occasioning a high cost of living, President Bola Tinubu has directed the immediate release of 42,000 metric tons of assorted food items from both the Strategic Reserve and the Rice Millers Association of Nigeria.

 

SaharaReporters reported on Wednesday that Nigerians in more states were embracing the call for protests against the harsh economy occasioned by the policies of President Bola Tinubu’s government.

 

It had been reported that traders in Kogi State and Suleja in Niger State, which is a few kilometres away from the Federal Capital Territory, Abuja staged protests over the high cost of food items.

 

Market women and men who protested in the streets of Lokoja, the state capital, lamented the increasing prices of essential commodities and how it had affected patronage of their businesses.

 

The angry Nigerians in a video obtained by SaharaReporters, called on President Tinubu’s government to end the hardship and inflation in the country.

 

After a meeting of the special presidential committee on emergency food intervention on Thursday, Minister of Information and National Orientation, Mohammed Idris, said the President’s directive was part of the government’s short-term measure to address the high cost of food.

 

Idris warned that the government would sanction food hoarders, noting that emergencies require emergency measures to ensure the availability of food to Nigerians.

 

Also, he noted that the government would embark on importation to plug any shortfalls that may be experienced after the release of the food items.

 

On February 6, the presidential committee on emergency food intervention met at the Presidential Villa in Abuja over the rising cost of living in the country.

 

The committee was convened by Femi Gbajabiamila, Chief of Staff (CoS) to the President.

 

The meeting was attended by Nuhu Ribadu, the national security adviser (NSA); Yemi Cardoso, governor of the Central Bank of Nigeria (CBN); Tahir Mamman, minister of education; Wale Edun; minister of finance and Abubakar Kyari, minister of agriculture, as well as Mustapha Shehuri, minister of state for agriculture.

 

SaharaReporters had reported that the decision of President Tinubu's administration to remove the petrol subsidy on May 29, 2023, was the beginning of the rising cost of living.

 

The high cost of petrol immediately led to hikes in the cost of goods and services.

 

 

Topics
Economy