There's no Food Inflation in Nigeria due to Efforts of My Government – Buhari


Alt: = "President Muhammadu Buhari"

President Muhammadu Buhari has said that Nigeria is only imagining food inflation but not experiencing it due to the organised programmes his administration initiated to boost local production.

President Buhari stated this in an interview with Bloomberg. He claimed that Anchor Borrower’s programme has reduced Nigeria's food imports to "near zero" and boosted rice production from 5.4 million metric tonnes in 2015 when he assumed office to 9 million metric tonnes in 2021.

He maintained that Nigeria is progressing to becoming food sufficient nation.

He said: “We can only imagine what food inflation would be today had we not initiated organised programmes to boost domestic production. And still, we do not grow enough domestically.

“Initiatives such as the Nigeria Anchor Borrower’s programme, helping farmers compete against artificially lowered imports have boosted rice production to 9 million metric tonnes in 2021 from around 5.4 million metric tonnes in 2015.

“Even in the years of drought, rice production outstripped pre-2015 levels. Imports have fallen to near zero. We are making progress,” President Buhari said.

Contrary to President Buhari's claim, Nigeria's food Inflation rose to 19.5% in May from 18.37% in April 2022, according to data released by National Bureau of Statistics (NBS). There has been month-on-month, year-on-year rise in food inflation in Nigeria since 2015, which shows steady increase in prices of staple food across the country.

Post a Comment

Previous Post Next Post