Tinubu authorizes the release of 42,000 tons of grains to tackle rising food prices

President Bola Tinubu has instructed the immediate release of 42,000 metric tons of various food supplies from both the strategic reserve and the Rice Millers Association of Nigeria as an initial response to the growing food scarcity in the nation.

Mohammed Idris, the minister of information and national orientation, disclosed the directive following a meeting of the special presidential committee on emergency food intervention on Thursday.

The minister stated that the government plans to engage in importation to address any shortages that may arise after the distribution of the food commodities.

He emphasized that urgent situations call for prompt measures to ensure the availability of food to Nigerians, promising penalties for those hoarding food items.

On February 6, the presidential committee on emergency food intervention convened at the presidential villa in Abuja to address the escalating cost of living in the country.

The meeting, presided over by Femi Gbajabiamila, the chief of staff (CoS) to the president, was attended by top officials including Nuhu Ribadu, the national security adviser (NSA), and Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN).

On Monday, residents of Minna, the capital city of Niger state, staged protests by blocking major roads in the metropolis to decry the increasing cost of living in the country, causing significant traffic congestion during rush hour.

The protesters expressed their grievances in Hausa, highlighting the economic hardships and inflationary pressures they face daily.

Since the removal of the petrol subsidy by Tinubu on May 29, 2023, there has been a consistent rise in prices of essential goods and staples.

Nigeria’s inflation rate surged to 28.9 percent in December 2023, up from 28.20 percent in the previous month.