The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has given assurance to Nigerians that food prices will come down in the coming months.
According to him, food inflation will come down with the dry season and wet season harvest.
Edun noted that food insecurity is a worldwide phenomenon, adding that the government has dedicated special funding for infrastructure to boost agriculture output.
The Minister stated this while fielding questions as a guest on Channels Television’s Sunday Politics programme.
He emphasized that the focus of the government has been to increase food production through the provision of seeds, fertilisers, amongst others.
“Inflation, yes, it is high at 33.65%; food inflation at 40.5% is worrisomely high, but the fact is that inflation is coming down, month-on-month.
“It is slowing and it is expected to reduce as we continue the dry season harvest and then we go into the wet season harvest.
“That is the place to focus on and a lot of emphasis is being placed on that to get agriculture output up, to get prices down, and that will be a big factor in bringing down inflation,” he said.
Food inflation will reduce with dry season harvest – Minister