Use Agricultural Interventions To End Crisis For Suffering Nigerians

As reactions to the rising food prices across the country have persisted, experts have urged the federal government to improve agricultural initiatives to address the issue.

Recall that the National Bureau of Statistics released its Food Prices Watch Report for October on Wednesday, which showed that the prices of sliced bread, tomatoes, onions, rice, beans, and palm/vegetable oil increased by a combined 2.15 percent.

Prior to this, Nigeria’s October inflation rate increased to 21.09 percent from 20.77 percent in 2022 as 133 million people experienced severe poverty.

The country’s inflation rate is caused by weak monetary policies, a lack of foreign exchange, insecurity, insufficient agricultural incentives, poor road infrastructure, and a number of other economic difficulties.

In response to the widespread rise in food prices, Mr. Idakolo Gbolade, a financial inclusion and wealth management expert, revealed that the rising cost of transportation had a negative impact on food prices nationwide.

To lower food prices in Nigeria, he called for improved government agricultural intervention.