The Federal Government, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, expressed concern about the continuous surge in food and commodity prices, leading to protests in Niger and Kano. Edun discussed the situation during a bilateral meeting with a German delegation led by Svenja Shulze, the Minister of Economic Cooperation and Development.

Edun attributed the rising prices to the forces of demand and supply, acknowledging citizens' discontent. He mentioned the perception of mass purchase and hoarding of food items for export as contributing to the unrest among youths and women.

In response to the protests, state governments, including Kano, blamed food speculators, leading to the use of "minimum force" by the police to disperse protesters. Kano State Governor, Abba Yusuf, highlighted the misery and hunger faced by many residents due to inflation outpacing incomes, resulting in deaths.

To address the situation, Edun emphasized the need to boost agricultural production to lower inflation. He mentioned the President's intervention in providing resources to farmers and increasing agricultural output, particularly in rice, wheat, maize, and cassava.

Edun, alongside Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, discussed the government's efforts and emphasized the partnership with Germany as an opportunity for skills development and job creation, particularly in the Small and Medium-sized Enterprises (SMEs) subsector.

Uzoka-Anite highlighted the forthcoming Memorandum of Understanding (MoU) with Germany to improve access to finance for women-owned enterprises and develop renewable energy. Shulze, from the German delegation, expressed the intention to deepen cooperation with Nigeria, emphasizing addressing security challenges through tackling underlying causes like jobs and education.

The Minister of Agriculture and Food Security, Abubakar Kyari, announced the government's initiative to massively produce food crops to reduce food prices across the country. Kyari aimed to decrease food inflation, considering it a major contributor to the overall high inflation rate in Nigeria's economy.

Naijamatta is a social networking site,

download Naijamatta from Google play store or visit www.naijamatta.com to register. You can post, comment, do voice and video call, join and open group, go live etc. Join Naijamatta family, the Green app.