President Muhammadu Buhari has expressed the concern of his administration about the sudden spiral of food prices, at a time when the economy is already mired in a slowdown occasioned by the global coronavirus situation.
The President assures Nigerians that the situation is transient. His administration has already begun looking and putting in place measures to ameliorate the situation.
He also revealed that his 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.
This year has indeed tested us in ways that globalization has never been tested since the turn of the century. These challenges have disrupted lives and supply chains all over the world, and Nigeria has not been spared.
He also accused food vendors and middle men of hurdling food item from Nigerians
But of all these problems, the most worrisome are the activities of “corrupt” middlemen (with many of them discovered to be foreigners) and other food traders who serve as the link between farmers and consumers found to be systematically creating an artificial scarcity so that they can sell at higher prices.