Analysts have linked the persistent rise in food prices to ongoing security concerns in food-growing regions across the country,
logistical challenges in making farm produce available and infrastructure deficits. logistical challenges in making farm produce available and infrastructure deficits.
They said this change was due to a decrease in the rate of price increase for items such as yam, water yam, Irish potatoes, beer, local beer, Milo, Bournvita, Nescafe, groundnut oil, palm oil, eggs, milk, soft drinks, spirits and various fruits. In response to these challenges, the Nigerian government has unveiled a comprehensive plan to tackle inflationary pressures in 2024. Central to this strategy is the planned six-month suspension of import duties, value-added tax and other tariffs on staple food items, raw materials and other direct inputs used for manufacturing, agricultural production inputs including fertilisers, seedlings, and chemicals, pharmaceutical products, poultry feeds, flour, and grains.
Dairy farmers in Kano have experienced improved productivity across value chain and fewer conflicts between herders and farmers through partnering with Outspan Nigeria. Major Energies Marketers Association of Nigeria has described ethanol blended into biofuel as a transformative energy source with the potential to shape Nigeria’s energy landscape and pave the way for a sustainable and economically robust future.
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