Rising Food Prices Spark Unrest in Kano and Niger
The Federal Government has expressed concern over the escalating costs of food and essential goods in Nigeria, leading to demonstrations in Niger and Kano. Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, conveyed this worry during a bilateral meeting with a visiting German delegation, led by the country’s Minister of Economic Cooperation and Development (BMZ), Ms Svenja Shulze in Abuja on Monday.
Edun attributed the situation, which has stirred discontent among citizens, to the dynamics of demand and supply. He highlighted that some youths and women expressed resentment towards what they perceived as large-scale purchasing of food items for hoarding and exportation outside the country.
The state government attributed the protests to food speculators, while the police reported using “minimum force” to disperse protesters blocking the Minna-Bida Road and arresting some whose activities were obstructing traffic and movement.
Meanwhile, Kano State Governor Abba Yusuf lamented that many people in his state were suffering in poverty, facing starvation and severe hunger. Yusuf emphasized that inflation had significantly outstripped incomes, leading to deaths as several residents could not afford the rising cost of living.
In response to these challenges, Edun stressed the need to enhance agricultural production as a means to mitigate inflation. He highlighted the government’s interventions in providing grains and fertilizers to farmers, expanding acreage for crops like rice, wheat, maize, and cassava, with the aim of increasing output to reduce prices and inflation.
Edun also mentioned ongoing efforts in dry season farming, anticipating a good harvest to alleviate price pressures. He noted that the partnership with Germany would facilitate skills development, job creation, and poverty reduction.
Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, highlighted that the collaboration with Germany aimed to develop Nigeria’s Small and Medium-sized Enterprises (SMEs) subsector. She emphasized that the partnership would improve access to finance for women-owned enterprises through a soon-to-be-signed Memorandum of Understanding (MoU).
Uzoka-Anite emphasized that supporting SMEs could significantly contribute to the country’s GDP, adding that the current strong relationship between both countries could be further enhanced.
Ms. Svenja Shulze acknowledged the existing cooperation in common interests between Nigeria and Germany, noting that over 90 German companies were operating in Nigeria. She highlighted the abundance of creative young talents in Nigeria and suggested that addressing the country’s security challenges required tackling underlying causes such as job creation and education, rather than solely relying on military solutions.
Shulze expressed Germany’s intent to deepen its cooperation with Nigeria.
Vanguard News
