Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has assured citizens that the Federal Government is committed to reducing the prices of food across states of the country.
Idris while speaking in Abuja at the Ministerial Briefing Session for 2025, said FG plans to lower the cost of food through massive investments in agricultural production.
According to the minister, the President Bola Tinubu-led administration in line with the principles of free-market economy will not impose price control on food commodities.
He said the government would rather focus on improving production of agricultural produce and increase supply of food in Nigerian markets.
He said, “In the past, we used to have these commodity boards where prices were fixed but in the spirit of free market and encouraging entrepreneurship, especially within the agricultural value chain, government didn’t feel that it was necessary for them to begin to control prices.
“Now, what government is doing is to ensure that there is massive production of food items and it’s a supply and demand issue. Once you have whatever you need in abundance, the tendency is that the price will automatically come down,” the minister stated.