Federal Government declares plans to address rising food prices

The Federal Government took some steps on Wednesday, June 1, to address the rising food prices around the country, planning to 'very soon' set a meeting of the National Food Security Council (NFSC). It also set up concrete actions to assure the growth of a few sensitive sectors.

The Federal Government took some steps on Wednesday, June 1, to address the rising food prices around the country, planning to ‘very soon’ set a meeting of the National Food Security Council (NFSC). It also set up concrete actions to assure the growth of a few sensitive sectors.

Zainab Ahmed, Minister of Finance, Budget and National Planning, who spoke after the weekly meeting of the Federal Executive Council (FEC), supervised by Vice President Yemi Osinbajo at the State House, Abuja, stressed that the gathering approved NFSC to meet soon to address the issue of food inflation and also give a plan and some methods in which it can decrease the cost of food to support improved food prices for the citizenry.

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She stated that the council was told about the rising inflation and the requirement to manage inflation prices in the country.

Ahmed said FEC considered a report from her ministry during the first three months of the 2022 GDP report, revealing that the Nigerian economy rose by 3.1%, as against a growth rate of 0.5% in the same last year.

She also stated that the $3.1 billion contracts against the ‘complete’ automation of the Nigeria Customs Service (NCS), authorised by FEC in 2020, were reversed.

The minister stated the lack of agreements between individuals that postponed a consortium’s take-off.

The project that was authorised in September 2020 and granted to Messrs E. Customs HC Project Limited was for delivery in 36 months and must have supported the agency’s operations by applying information and technology.

FEC authorised a Memorandum of Understanding (MoU) for buying 82 Toyota vehicles, branded raincoats, as well as sundry accoutrements for the Nigeria Police Force (NPF) at N8,315,209,825.

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The deal followed consent for the Nigeria Police Trust Fund to award contracts to supply sundry accoutrements for efficient force procedures.

 

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