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Prices of food to fall soon – FG

by adminV

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh has given Nigerian hope concerning the hike in prices of food, promising that it will fall soon.

He stated that the Federal Government would stop the importation of rice this year, explaining that the country has enough internal production that can sustain home consumption and meet foreign exchange earnings that can guarantee diversification of the economy.

“Of recent, prices of diesel increased from N130 pr litre to about N280, which makes the cost of tractors to move up to N14 million from N7 million. The interest rate on every loan given to farmers also went up, so the aggregate of all these factors caused an increase in the prices of food items.

“We are concerned with the plights of Nigerians. We knew that many are hungry, but we are working around it because it doesn’t speak well of us in government that people are hungry.”

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