The Particular Adviser to the President on Coverage Communication, Daniel Bwala has credited the latest decline in meals costs to the Bola Tinubu administration’s aggressive efforts in tackling insecurity.
In a put up on X (previously Twitter) on Monday, Daniel Bwala dismissed claims that the value discount was pushed by elevated importation.
As an alternative, he asserted that improved safety situations have restored confidence within the agricultural sector, resulting in elevated native manufacturing.
Bwala emphasised that the federal government’s decisive actions in opposition to banditry, terrorism, and farmer-herder conflicts have inspired farmers to return to their farmlands, boosting meals provide and stabilizing costs.
“The explanation the meals costs are crashing is as a result of now we have dealt a heavy blow to insecurity, therefore farmers enthusiastically go to farm and do what they do finest. President Tinubu @officialABAT means enterprise,” he wrote.
Presidency Dismisses Claims Linking Worth Drop to Imports
Addressing studies suggesting that meals importation was answerable for the value lower, Bwala described such claims as faux information, allegedly being unfold by people sad with the federal government’s safety good points.
“Ignore the sore losers who’re peddling faux information that importation is the explanation for crashing of the costs and that President Tinubu is destroying the economic system of the North. Such people are most likely not blissful that we’re coping with insecurity,” he added.
Meals Costs Present Indicators of Decline
Over the previous few weeks, studies point out that staple meals costs have began to reasonable after months of relentless inflation. Analysts attribute this to elevated provide, seasonal harvests, and improved safety situations in key agricultural areas.
- Nevertheless, consultants warning that whereas insecurity has been a significant problem for agriculture, structural points equivalent to logistics, market hypothesis, and enter prices additionally play a job in meals inflation. The federal government is anticipated to proceed engaged on broader financial reforms to maintain value stability.
- Nairametrics knowledge exhibits that the costs of main staple meals gadgets in Lagos and different components of the nation skilled a big decline in February 2025, following months of steady value surges.
- The costs of a number of staple meals gadgets dropped considerably as a consequence of elevated provide from native farmers who’ve commenced harvesting.
- Notably, the best decline is the value of a giant bag of onions which fell sharply by 43.2%, pushed by an inflow of recent provides from main producing states.
As well as, value reductions had been recorded for egusi (melon), white garri, beans, frozen fish varieties (kote and Titus), a 25-litre gallon of vegetable oil, and yams.
Additionally, the Nationwide Bureau of Statistics (NBS) launched its rebased Client Worth Index (CPI) on February 18, 2025, which confirmed that Nigeria’s headline inflation fee dropped to 24.48% in January 2025.
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