Finance

FG assures Nigerians of food security

FG assures Nigerians of food security

The Federal Government of Nigeria has promised to boost food security in the country this year.

President Bola Tinubu gave this assurance in his New Year’s speech to Nigerians on Monday.

 The President disclosed that the government would cultivate about 500,000 hectares of farmlands to combat hunger in the country.

In last year, Nigerians lamented the high inflation rates in the country.

The country’s inflation accelerated to 28.20 per cent in November 2023, triggered by food inflation that rose to 32.84 per cent during this period.

 “I am well aware that for some time now the conversations and debates have centred on the rising cost of living, high inflation which is now above 28 per cent and the unacceptable high under-employment rate.

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“To ensure constant food supply, security and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops,” Tinubu stated.

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The government added that it had started the implementation of the food security programme already in Jigawa State.

 “We launched the dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme,” the President added.

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 Tinubu also vowed to improve the business environment in the country, stating that his government would remove all bottlenecks to profitable business operations in the country.

 Our correspondence reported that at least five multinationals have winded down operations in Nigeria in the last 10 months as a result of the power crisis, coupled with the unpredictability of the country’s foreign exchange rate.

Punch

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