President Muhammadu Buhari has identified the current cause of the high prices of food in Nigeria.
Anaedoonline.ng reports that Nigeria’s number one citizen while delivering his nationwide broadcast in commemoration of the nation’s 61st independence today, claimed that the food price hike was caused by middlemen who buy essential commodities and hoard them for profiteering.
While acknowledging that Nigeria’s food capacity had increased, Buhari hoped that with some water projects, the enhancement of food production would be even much better in the country.
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The President revealed that his administration has completed several new dams and are in the process of rehabilitating several River Basin Development Authorities to enhance groundwater supply for rain-fed agriculture as well as surface water for irrigation agriculture.
This according to him, will further enhance food production across the states of the nation. He said: “Unfortunately, as our food production capacity has increased, food prices have been going up due to artificial shortages created by middlemen who have been buying and hoarding these essential commodities for profiteering.
“To address this, I am hereby directing the Ministry of Agriculture and Rural Development to rehabilitate the National Food Reserve Agency and also work with security agencies, the Nigerian Commodity Exchange, and the National Assembly to find a lasting solution to these disruptive and unpatriotic hoarding activities.
“To further enhance food production, we have completed several new dams and are in the process of rehabilitating several River Basin Development Authorities to enhance groundwater supply for rainfed agriculture as well as surface water for irrigation agriculture.
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“The water projects we completed between 2015 to 2020 have improved Nigerian’s access to potable water to 71% between 2015 and 2020. This means 12.5 million additional Nigerians now have direct access to potable water,” Buhari reiterated.
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