• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

President Buhari promises to crash food prices

Abiola Odutola by Abiola Odutola
October 3, 2021
in Business News, Spotlight
Aliko Dangote’s $19 billion refinery to be inaugurated by President of Nigeria
Share on FacebookShare on TwitterShare on Linkedin

President Muhammadu Buhari has assured Nigerians that he will crash rising food prices in the country, as he directed key government and security agencies to find lasting solutions to the disruptive and unpatriotic activities of middlemen and hoarders of food items.

The President disclosed this in his 61st Independent live broadcast on Friday in Abuja.

The directive, according to the President, was aimed at crashing the prices of food items and subsequently reducing the hardships being faced by citizens.

RelatedStories

When you travel to your village, why do you buy yams, palm oil and bananas and return them to your city?

Food prices drop in Abuja markets in first week of Ramadan amid importation, stable Naira 

March 8, 2025
Tinubunomics bite harder as prices of beans, tomato, garri rise by over 30% in one month

Market Relief: Food prices drop after months of soaring costs 

February 19, 2025

What the President is saying

He said, “The agricultural sector remains key to our economic diversification efforts as the sector has been a consistent driver of the non-oil sector, contributing 22.35 per cent and 23.78 per cent to overall GDP in the first and second quarters of 2021.”

The president’s broadcast also touched on the efforts of his administration’s resolve to ensure peaceful co-existence among the diverse ethnic groups, security, transportation, agriculture as well as ongoing transformation programmes of the Federal Government, among others.

“We have seen significant private sector investments in almost all areas of the agricultural value-chain and these have continued even during the COVID-19 pandemic.

“Unfortunately, as our food production capacity has increased, food prices have been going up, due to artificial shortages created by middlemen who have been buying and hoarding these essential commodities for profiteering.

“To address this, I am hereby directing the Ministry of Agriculture and Rural Development to rehabilitate the National Food Reserve Agency and also work with security agencies, the Nigerian Commodity Exchange and the National Assembly to find a lasting solution to these disruptive and unpatriotic hoarding activities,’’ he added.

What you should know

The President also directed the Ministry of Agriculture and Rural Development to work with the Nigerian Commodity Exchange and the National Assembly to rehabilitate the National Food Reserve Agency to boost food production and address artificial food shortages created by the middlemen.

The president expressed regrets that despite significant private sector investments in almost all areas of the agricultural value-chain, food prices had continued to soar.

Tags: AgricultureFood Prices
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

When you travel to your village, why do you buy yams, palm oil and bananas and return them to your city?
Economy

Food prices drop in Abuja markets in first week of Ramadan amid importation, stable Naira 

March 8, 2025
Tinubunomics bite harder as prices of beans, tomato, garri rise by over 30% in one month
Economy

Market Relief: Food prices drop after months of soaring costs 

February 19, 2025
FG to lower food prices through increased agricultural investment – Minister 
Agriculture

FG to lower food prices through increased agricultural investment – Minister 

February 12, 2025
Food items,
Economy

Food prices soar by 97% in one year, South-East records highest increase – NBS Report 

January 23, 2025
Niger state ‘generated N600 billion’ from agriculture in 2024 – Governor Umaru Bago
Agriculture

Niger state ‘generated N600 billion’ from agriculture in 2024 – Governor Umaru Bago

January 16, 2025
Prices of staple foods projected to increase in Nigeria and others in 2024 – Report
Agriculture

World food prices hit 18-month high in October – UN 

November 8, 2024
Next Post
Buhari gives approval of use of old N200 notes till April 10

Nigerian insurance sector needs right mechanism to thrive - Buhari

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • BREAKING: FCCPC to arraign MultiChoice CEO, Pay TV Directors for allegedly Impeding Investigation
  • Lagos to host Africa’s first Stablecoin Conference – Nigeria Stablecoin Summit driving adoption of a borderless digital economy  
  • Customs intercepts N3.6 billion worth of donkey skin meant for illegal export in Owerri 

Follow us on social media:

Recent News

Nigerian banks lose N42.6 billion to fraud in Q2 2024, surpassing full-year 2023 record

BREAKING: FCCPC to arraign MultiChoice CEO, Pay TV Directors for allegedly Impeding Investigation

June 24, 2025
Lagos to host Africa’s first Stablecoin Conference – Nigeria Stablecoin Summit driving adoption of a borderless digital economy  

Lagos to host Africa’s first Stablecoin Conference – Nigeria Stablecoin Summit driving adoption of a borderless digital economy  

June 24, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics