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HomeNaija NewsFood prices to reduce across the country by 15% — Presidency reveals

Food prices to reduce across the country by 15% — Presidency reveals

Presidency has revealed how President Bola Tinubu will crash food price by 15% by December 2025.

The special adviser to the president via his X handle categorically shed light on the plans being set aside. In his words;

“ON FOOD SECURITY, I can categorically confirm that agriculture will be a major priority for the administration in 2025 as President Tinubu has set an ambitious agenda of reducing inflation across the board to 15% by December.

To achieve this, several mechanisms have been put in place including the delivery of farm equipment which will begin soon.

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It’s not just the 2,000 tractors mentioned by President Tinubu in his new year speech;

  • 4000 disc ploughs
  • ⁠1000 disc ridges
  • ⁠1200 tractor trailers and other assorted spare parts are set to be delivered to Nigeria over the next few weeks as part of a major mechanization project under the National Agricultural Mechanization Programme (NAMP).

@JohnDeere is also expected to set up assembly/maintenance plants for these equipments in Nigeria as they will be replicating the supply successively over the next five years.

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Several states will also be supported via the Special Agro Processing Zone program which is spearheaded by the Africa Development Bank. This is an entirely different agricultural development scheme as the administration seeks to make the challenge of food security a thing of the past in the country by institutionalizing programs that will maximize our potentials as a major food producing nation.

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On storage and commodity boards, several zonal commodity exchanges are expected to come on board just as much as many state governments have started the process of floating the same to mitigate the effects of hoarding and middlemen-induced inflation.

It’s an all inclusive approach aimed at correcting the wrongs of the past and there are a lot of reasons to be optimistic. 2025 promises to be a great year because “joy is coming”.” [CONTINUE READING HERE]>>>>



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