Three Reasons given by Buhari's Palace for Inflation in Nigeria

0 15
Avatar for Ab2
Written by
3 years ago

The Nigerian presidency has shed more light on what it sees as the high cost of living and rising prices that Nigerians are complaining about.

In an interview with BBC Hausa, Presidential Adviser on Media, Malam Garba Shehu, said there were three main reasons for rising prices but the issue of closing the country's borders was not one of them.

Many Nigerians on Wednesday lashed out at President Muhammadu Buhari, criticizing him for the high cost of living in the country.

The rise in electricity and fuel prices has provoked criticism from some in the country, with some northerners challenging the president for showing them what he has done for them during his rule.

But on Thursday, the president expressed concern over rising food prices that Nigerians are struggling with.

President Buhari even said his government was worried about rising prices at a time when the closure of the corridor has further thrown the country's economy into a tailspin, in a statement issued by Mr Garba.

What causes rice prices in Nigeria?

Malam Garba Shehu outlined to the BBC three reasons why Nigerians find themselves in a situation of high cost of living as follows;

1. Fertilizer issue: The economic crisis and the cholera epidemic in far and near countries has affected the shale and the minerals used to process the manure.

As a result, fertilizer has become more expensive in the dry season so far, with some cultivating rice and losing fertilizer forcing them to sell it to pastoralists. This has been done in this country.

2. Violence among people: There are foreigners who are seen doing it. Food is being smuggled into the country.

And the government is taking action on that.

3. Establishment of a rice factory: Progress has been made in establishing several rice processing factories in the country. Like in Kano there are about 18 of them each processing 180 to 400 tons of rice per day. They hire no less than 200 employees.

But now everyone wants to see that his industry does not stop. Marketers are investing no matter how much they care to keep their factories afloat and pay for raw rice.

Dissatisfaction

However, President Buhari's concerns over the rising food prices that his countrymen are struggling with are unsatisfactory, with some Nigerians insisting that he does not care about their plight.

Many have taken to Twitter to express their grievances.

2
$ 0.00
Avatar for Ab2
Written by
3 years ago

Comments