Inflation: Acting Pres. Osinbajo Takes Action On High Costs Of Foodstuffs


Vice President of Nigeria, Professor Yemi Osimbajo who has also been acting in the capacity of the president since his boss left the country has issued an order that would prevent inflation on prices of foodstuff in the local markets as well as enhance the affordability of food across the country.

The Federal Government constituted a Presidential Task Force to urgently consider measures that would ensure a steady flow of produce to the market and reverse recent inflation.

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During the Federal Executive Council meeting, Osinbajo pointed at the incessant and uncontrollable increase in prices of foodstuffs at local markets. He noting that the Task Force will explore options to promote availability and affordability of food items to Nigerians.

Osinbajo said:

“The Task Force, will have seven days from Wednesday to report back to the Council. They consider how to remove some of the cost-raising factors that come into play between the farms and the markets and therefore bring relief to our people.”

Despite reports of bumper harvests in parts of the country, the prices of food stuff still end up high, while some of the produce even end up wasted due to a number of reasons preventing effective transportation delivery to the markets.

According to the Acting President, one of the focus areas of the Task Force, would be to review the transportation and preservation processes, and see how government can intervene in those aspects to bring down inflation on prices of foodstuffs.

It was decided that the Task Force group will meet with Prof. Osinbajo and the Council next week to present  the urgent practical plan.

Members of the Task Force include the following:

  • Minister of Agriculture & Rural Development, Audu Ogbeh
  • Minister of Finance, Kemi Adeosun
  • Minister of Industry, Trade & Development, Okey Enelamah
  • Minister of Transportation, Rotimi Amaechi
  • Minister for Water Resources, Suleiman Adamu
  • Minister of Labour & Employment, Chris Ngige

The Offices of the Chief of Staff to the President and the Senior Special Assistant to the President on Sustainable Development Goals, SDGs, would also be on the Task Force.

Recall that the Professor visited Aba, Abia state last month, January 26, where he described the commercial city of as ‘easily the manufacturing and small-scale business centre of Nigeria’.

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Osinbajo who expressed awe at the crafty potentials of Aba during the launching  Federal Government’s nationwide Micro, Small and Medium Enterprise Clinic, in Abia State, noted that artisans in Aba are showcasing the real creativity which Nigerians are known for.

He confessed:

“When I was small and people when would say made in Aba, I never believed it but  it has manifested today and the nation is in true need of them,”

The Prof. opined that the diversification crusade being canvassed by the Federal Government would only be achieved through the encouragement of locally manufactured products. He also noted that the process of diversification of the economy could successfully be realized through improved locally manufactured goods and services.

As Vice President cum Ag. President, Osinbajo had once reassured Nigerians that recession will soon become history in President Muhammadu lead administration.