Business & Economy

We’re worried by rising living costs, Niger, Kano protests – FG


The Federal Government has expressed worry over the rising prices of food and commodities in the country, which led to protests in Niger and Kano, respectively.

Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun spoke during a bilateral meeting with a visiting German delegation, led by the country’s Minister of Economic Cooperation and Development (BMZ), Ms Svenja Shulze in Abuja on Monday.

Edun said the situation, which had produced growing discontent among the citizenry, was triggered by demand and supply forces.

Recall that some youths and women resented what they perceived as the mass purchase of food items for hoarding and exporting outside the country.

The state government blamed food speculators for the protests.

The police said they used “minimum force” to disperse protesters who blocked the Minna-Bida Road and arrested some whose activities were obstructing vehicular and human movement.

Relatedly, Kano State Governor Abba Yusuf lamented on Monday that many people in his state were living in misery amid starvation and acute hunger.

Yusuf said inflation had terribly outpaced incomes, resulting in deaths, as several residents could not cope with the rising cost of living.

Edun, who spoke in response to current realities, said the only way to address the situation was to boost agricultural production, in particular, to force down inflation.

Speaking alongside Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, Edun said, “I think the issue of rising prices is of concern to the government and everybody in Nigeria,” and some major steps were being taken to address the situation.

He said, “It is the issue of demand and supply and a lot of emphasis has been placed on increasing agricultural production, in particular.

Mike Ojo

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