The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reassured Nigerians that food prices are expected to decrease in the upcoming months.
He highlighted that food inflation will likely decline as a result of both the dry season and wet season harvests. Edun acknowledged that food insecurity is a global issue and mentioned that the government has allocated special funding for infrastructure to enhance agricultural output.
Edun made these remarks during an interview on Channels Television’s Sunday Politics program. He stressed that the government’s focus has been on boosting food production through initiatives such as providing seeds, fertilizers, and other necessary resources.
“Inflation, yes, it is high at 33.65%; food inflation at 40.5% is worrisomely high, but the fact is that inflation is coming down, month-on-month.
“It is slowing and it is expected to reduce as we continue the dry season harvest and then we go into the wet season harvest.
“That is the place to focus on and a lot of emphasis is being placed on that to get agriculture output up, to get prices down, and that will be a big factor in bringing down inflation,” he said.
