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President Bola Tinubu has said that his administration is implementing strategies to crash the prices of goods such as food items and drugs nationwide.
He said this during his nationwide broadcast on Sunday morning.
Mr Tinubu disclosed that he has ordered the removal of tariffs and other import duties on food items and pharmaceutical products.
This move aims to make these goods more affordable for ordinary Nigerians.
“We are offering incentives to farmers to increase food production at affordable prices,” Tinubu stated.
“I have directed that tariffs and other import duties be removed on rice, wheat, maize, sorghum, drugs, and other pharmaceutical and medical supplies for the next six months to help reduce prices”, he added.
Also, president Tinubu noted that efforts are being made to enhance food production through partnerships with state governors.
He mentioned ongoing distributions of fertilizers and the goal to cultivate over 10 million hectares of land to boost local food supply.
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“We have been collaborating with governors and key ministers to accelerate food production. The Federal Government will provide necessary incentives while states provide the land, creating jobs and increasing food production,” he added.
Tinubu also highlighted recent purchases of mechanized farming equipment, including tractors and planters from the United States, Belarus, and Brazil, worth billions of Naira, which are currently en route to Nigeria.
While addressing the ongoing protests over economic hardships, Tinubu urged angry Nigerian youths to halt demonstrations and create room for dialogue.
He reiterated his commitment to creating a just and prosperous nation, underpinned by democratic governance that is open, transparent, and accountable.
“Our economy has struggled due to long-standing issues. Temporary fixes are no longer viable; we must adopt sustainable solutions for the benefit of current and future generations,” Tinubu concluded.
