The Minister of Agriculture and Food Security, Abubakar Kyari, has announced that bumper harvests expected in Nigeria around October and November will significantly reduce food prices.
Kyari made this statement during an interview with Channels Television on Sunday.
He explained that Chief Bola Ahmed Tinubu approved a temporary 150-day zero-import duty on rice, maize, wheat, and other staple foods to address food shortages and curb food inflation. This initiative is set to last until the harvest season in October or November.
Kyari emphasized that the importation of food items is a short-term measure and will not continue indefinitely. He highlighted that the country is anticipating a substantial harvest in the coming months, which should lead to a significant drop in food prices.
Kyari stated, “We are talking about an importation level of 300,000 to 400,000 metric tonnes per month for all five crops. It will last only until harvest. It’s about October or November this year. That’s when we’re going to have the harvest. We’re expecting a bumper harvest.
“The season that we find ourselves in now is a cyclical issue that you have in agriculture. This is what you call the lean season, and this is between June, July and August before the next harvest.
“That is why Mr President has decided to import rice, maize, wheat and other staple foods, as soon as all the fiscal issues have been worked out and the Ministry of Finance and Customs have ironed out the fiscal aspect of it,” he added.
Kyari’s comments come amid ongoing hunger protests, which entered their fifth day on Monday
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