The Minister of Agriculture and Rural Development, Audu Ogbeh, has announced that the price of rice and other food stuffs would fall within the next two weeks.
The Minster who also doubles as the chairman of presidential task force on soaring prices of foodstuffs, said: “The federal government will intervene on the prices of rice and other commodities in the next two weeks. Details of the intervention would be spelt out for all Nigerians. We are talking to farmers to ensure that the prices are drastically reduced. Government has also put in place different measures aimed at making farming encouraging."
He added that "Although the high price is bad for non-farmers, it is good for the country because more and more people will rush to agriculture. At the end of it all, production will increase and prices will necessarily fall.”
Nigeria has witness a significant increase in food price which many blame on the rising foreign exchange. Government is currently working towards encouraging local production and consumption of locally made goods. This is expected to boost local production and with resultant decrease in the price of food stuff.
