The Federal Government of Nigeria has joined forces with a visiting German delegation to address the concerning surge in food prices across the country.
Speaking at a bilateral meeting with the German delegation led by the Minister of Economic Cooperation and Development (BMZ), Svenja Shulze, in Abuja, Olawale Edun relayed the worries of the government over the continuous rise in the cost of food and other essential commodities, which has led to protests in Niger and Kano states.
He attributed the price hikes to the forces of demand and supply within the nation.
Meanwhile, state governments have also voiced concerns over the impact of soaring food prices on their citizens. Kano State Governor, Abba Yusuf, lamented the dire situation in his state, where many residents are grappling with starvation and acute hunger due to inflation outpacing incomes.
In response to these challenges, the Nigerian government is intensifying efforts to enhance agricultural productivity. Minister Edun emphasized the President’s intervention in providing support to farmers and expanding cultivation acreage for staple crops such as rice, wheat, maize, and cassava, particularly during the dry season farming.
The collaboration with the German delegation aims not only to address the immediate crisis but also to foster long-term solutions. Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, stated the plans to sign a Memorandum of Understanding (MoU) aimed at developing Nigeria’s Small and Medium-sized Enterprises (SMEs) sector, which is expected to enhance job creation and alleviate poverty, aligning with Nigeria’s agenda for industrialization and economic growth.
In agreement with the Nigerian authorities, Svenja Shulze emphasized the importance of addressing root causes such as unemployment and education to tackle security challenges effectively.
She pledged Germany’s commitment to deepen cooperation with Nigeria and support initiatives aimed at enhancing economic development and stability.
The Minister of Agriculture and Food Security, Abubakar Kyari, reiterated the government’s commitment to reducing food inflation by ramping up food crop production. He emphasized that tackling food inflation is crucial to addressing the broader economic challenges facing Nigeria.
