He lamented the spiral rise in food prices at a time that “Nigerians have already suffered grave economic losses owing to the Coronavirus pandemic.”
Dododo said: “Preliminary assessment showed that damage to rice plantations and other produce due to the floods could be over N5 billion, and this is just the beginning. “So that we can go back and engage in dry season farming to at least cushion the effect of the losses incurred during this farming season.”
“This bad news couldn’t have come at a worse time for our farmers and other Nigerians who looked forward to a bumper harvest this year in order to reduce the current astronomical rise in the costs of food items.” “While Providence has been kind to us with the rains and as such an expectation that a bumper harvest would lead to crashing of food prices and ease the burdens on the population, government’s concern is that the exploitative market behaviour by actors has significantly increased among traders in the past few years and may make any such relief a short lived one.
”In dealing with these problems, the administration has, in line with its ease of doing business mantra, avoided imposing stockholding restrictions, in order not to discourage investments in modern warehousing and cold storage.”*Approval of the release of food items from the strategic reserves, including 30,000 tons of maize to animal feeds producers to ease the high cost of poultry production.
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