Food Inflation: Tinubu Says He Won’t Create a Price Control Board

The President added that his government would employ domestic resources to handle the country’s food security issues and that he would not permit the importation of food goods.

The Federal Government was given a seven-day deadline by a Federal High Court located in Lagos on Wednesday to fix the pricing of goods and petroleum products.

The ruling was given by Justice Ambrose Lewis-Allagoa in response to an initial motion that Femi Falana, a Senior Advocate of Nigeria, had filed and contested.

The President declared, however, that his government will employ domestic remedies to address the problems with the country’s food security rather than establishing a price control board or allowing the importation of food products.

The President declared, however, that his government will employ domestic remedies to address the problems with the country’s food security rather than establishing a price control board or allowing the importation of food products.

“Creating a price control board is something I will not do. According to a statement from his spokesperson, Ajuri Ngelale, the President declared, “I will not also approve the importation of food.

We ought to be able to escape the predicament we’re in, as imports will make it possible for rent seekers to commit fraud and poor management at the expense of the whole community. Our preference is to provide farmers with incentives that encourage them to work the land and increase the amount of food produced for the nation’s population.

The President said, “We also need to consider the timely but careful execution of our plans for the development and management of our livestock, including dairy farming and other ventures.

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