The Nigerian government said it is implementing drastic and effective measures to reduce the prices of food items in the country.
The most populous nation in Africa is experiencing a spiralling economy occasioned by fuel subsidy removal, currency depreciation, and associated security challenges as well as climate change.
The National Bureau of Statistics NBS had in a report disclosed that inflation in the country reached a 27-year high in January 2024, with two recessions in the last six years.
However, according to the minister of finance and coordinator of the economy Wale Edun, the dry season presents a favourable planting period for farmers who will be supported with necessary incentives.
Edun was speaking to Journalists in Abuja after a short meeting with the German minister of Economy.