President Muhammadu Buhari, on Thursday, identified exploitative behaviour of middlemen as one of the major factors behind the high food prices being experienced.
The President, who revealed through his verified twitter handle that his administration is aware of the current rise in food prices, noted that efforts are being made to solve the food issue.
He also stated that he has approved the release of 30,000 tons of maize from the national reserves to animal feed producers.
Buhari assured Nigerians that the rising food prices will not last.
He said, “To ease the current high cost of poultry production, I have approved the release of 30,000 tons of maize from the national reserves, to animal feed producers.
“We are very mindful of the challenge of high food prices, at a time when the economy is already in a slowdown caused by the global coronavirus situation, and are doing everything in our power to bring down the prices of food items across the country.
“Let me assure Nigerians that this situation of spiraling food prices will be a transient one.
“We are also engaging with food producers associations and groups to tackle the issue of exploitative behaviour by middlemen and other actors, which is one of the factors responsible for the high food prices being experienced.”