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Federal Government’s Efforts To Lower Food Prices Hampered By Rising Costs
Federal Government’s Efforts To Lower Food Prices Hampered By Rising Costs. The Federal Government’s ambitious initiative to lower food prices through zero percent duty and VAT exemptions on select basic food items is facing significant challenges.....KINDLY READ THE FULL STORY HERE▶
As of September 2024, the average price index of imported food items has surged to a concerning 878.3, reflecting broader economic pressures that are undermining efforts to combat food inflation in Nigeria.
Initially announced on July 8, 2024, the government aimed to establish a 150-day duty-free import window for essential commodities such as maize, brown rice, wheat, and cowpeas. However, nearly three months later, the implementation of this scheme has stalled, primarily due to bureaucratic delays and the Federal Ministry of Finance’s failure to publish a list of qualified importers as mandated by Customs in August.
At a recent press briefing, Finance Minister Wale Edun noted that the government has ordered maize and wheat imports to stabilize the food market, but the expected policy changes have yet to take effect, causing imported food prices to continue rising. The National Bureau of Statistics (NBS) reported a notable 30.6 price index increase in imported food from August to September 2024, marking an 8.97 percent rise since the duty-free initiative’s announcement.
Year-to-date, the average price of imported food has surged by 26.81 percent, highlighting a growing reliance on foreign food products amid domestic supply challenges. The ongoing inflation trend has raised concerns among consumers and policymakers, with imported food inflation rates climbing from 26.29 percent in January to 34.83 percent in May 2024.
In the second quarter of 2024, the Central Bank of Nigeria (CBN) allocated N547.7 billion ($823.19 million) to support food imports, a decrease of 20.6 percent from the previous quarter’s allocation of $689.88 million. Over the past six months, the CBN has disbursed a total of N1.73 trillion to facilitate food imports, underscoring the urgency of addressing the escalating food crisis.
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“2027 ULTIMATUM: PETER OBI DROPS SHOCKING BOMBSHELL ON ONLY CONDITION HE WILL ACCEPT DEFEAT!”
During a Thursday interview on Arise News, Nigeria Democratic Congress (NDC) presidential candidate Peter Obi stated that he will readily accept defeat in the 2027 general elections, provided the process is conducted fairly and credibly, emphasizing that he will always respect the sovereign will of the electorate. At the same time, the former Anambra State Governor maintained that he actually won the 2023 presidential ballot, claiming the results were manipulated and that those responsible are aware of the irregularities that occurred.....KINDLY READ THE FULL STORY HERE▶
Turning to leadership metrics, Obi argued that presidential bids should be evaluated strictly on competence and qualifications rather than tribal or religious sentiments. Highlighting his own preparedness, he pointed to his academic background at prestigious global institutions—including Oxford, Cambridge, Harvard, Columbia, and Kellogg—and challenged anyone to contest the validity of his credentials under threat of stepping down from the race. Furthermore, Obi critiqued the continuous marginalization of younger generations in governance, pointing out that across 66 years of independence, Nigeria has never elected a president born after 1960.
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‘Some People Were After His Life’ – Sister Of Kano Political Commentator
Prior to his tragic death at his home in the Gaida area of Kumbotso Local Government Area, Kano State, social media political commentator Ibrahim Khalil Dan Shagamu repeatedly voiced fears that his life was in danger.....KINDLY READ THE FULL STORY HERE▶
According to his sister, Halima, the deceased had grown increasingly uneasy staying at his residence because he suspected certain individuals were targeting him. Consequently, he frequently sought refuge with friends and steered clear of environments where he perceived a threat. Halima recounted a specific instance when unknown individuals attempted to lure him out of his home by promising Federal Government palliatives, noting that he grew suspicious when asked to travel elsewhere to retrieve an access code.
Anxiety over his safety and whereabouts escalated when a friend repeatedly found his home locked, prompting a report to the police. His nephew, Muhammad Hizbullah Kabiru, stated that family members accompanied law enforcement officers into the property, where they discovered Dan Shagamu’s body bearing signs of severe injuries. Police investigations into the circumstances surrounding the incident are currently ongoing.
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“THE PEOPLE’S WAR CHEST: NDC STUNS CRITICS WITH BOLD STRATEGY TO DRAIN ORDINARY CITIZENS’ POCKETS FOR 2027!”.
The Nigeria Democratic Congress (NDC) has announced plans to finance its electoral campaign through contributions from ordinary citizens rather than wealthy elites. According to party national leader and Senator representing Bayelsa West, Seriake Dickson, who spoke during an interview on Arise News, this grassroots funding strategy aims to reduce the political influence of affluent individuals and break the cycle of oppression.....KINDLY READ THE FULL STORY HERE▶
Emphasizing the financial independence of the organization, Dickson noted that the NDC operates as the sole political party in Nigeria that does not draw financial sustenance from the government treasury. To liberate the electorate from systemic oppression, the party intends to follow global crowdfunding practices by encouraging ordinary citizens to make small, voluntary financial contributions ranging from ₦1,000 to ₦2,000. Highlighting the rationale behind this framework, Dickson warned against allowing the nation’s democratic processes to remain under the control of wealthy individuals and billionaires utilizing state resources, asserting that such dependency only perpetuates the subjugation of ordinary people.
In addition to campaign financing matters, Dickson provided updates regarding the party’s internal organization, mentioning that consultations are actively underway concerning the structure of the presidential campaign council, with an official announcement expected soon. He contrasted their meticulous approach with the ruling party’s administrative errors, explicitly stating that the NDC wishes to avoid publishing and subsequently retracting official lists. Furthermore, Dickson called upon the Independent National Electoral Commission (INEC), security agencies, and other pertinent stakeholders to guarantee transparent, free, and credible elections in the 2027 cycle, affirming that the party plans to take its message directly to the populace while aggressively contesting and defending every single vote.
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