Expect reduction in prices of food items by January 2025 – FG
The Federal Government has announced that prices of food items would crash in the next 180 days (January 2025) following the active deployment of strategic measures aimed at addressing the rising costs of food stuffs nationwide.
The Minister of Agriculture and Food Security, Abubakar Kyari, said the measures include the suspension of duties, tariffs, and taxes for the importation of certain food commodities through land and sea borders, as well as the importation of 500,000 metric tonnes of wheat and maize.
He said, “Our administration has unveiled a series of strategic measures to address the high food prices currently affecting our nation. These measures will be implemented over the next 180 days.”
Kyari announced on his official X handle on Wednesday that the imported food commodities would be subjected to a recommended retail price to maintain the required and acceptable standard.
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The minister added, “We understand concerns about the quality of these imports, especially regarding their genetic composition. The government assures that all standards will be maintained to ensure the safety and quality of food items for consumption.
He said the government’s plans also include ramping up production for the 2024/2025 farming cycle, supporting smallholder farmers during the ongoing wet season farming, strengthening and accelerating dry season farming nationwide, and collaborating with sub-national entities to identify irrigable lands and increase land under cultivation.
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