President Bola Tinubu assured Nigerians that food prices will drop once peace is restored in troubled regions.
In his Independence Day address, he stated that once stability returns to the North and farmers can safely farm again, food production will surge and prices will decrease.
This promise is part of his administration’s efforts to tackle food insecurity and ensure affordable food for all Nigerians.
Tinubu said, “We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this.”
Insecurity, climate change, and inflation are the primary factors driving the surge in food prices. Security reports reveal that approximately 690 farmers were killed in Benue State between January 2023 and February 2024.
This year, 165 farmers have been killed nationwide, with 130 fatalities recorded in Benue State in March alone. The ongoing insecurity and farmer-herder crisis have forced many farmers to abandon their farms.
The president expressed concern over the rising cost of living, particularly the escalating food prices. According to the Nigeria Bureau of Statistics, food prices increased by 61% in June 2024, up from 25.25% in June 2023 and 40.66% in May 2024.
Tinubu further emphasized , “The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.
“My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home.”
The president equally applauded the Governors of Kebbi, Niger, Jigawa, Kwara, Nasarawa States and the Southwest Governors on their adoption of agricultural production programme.
“I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertiliser and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months,” he noted.
