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Presidency aide, Garba Shehu says food prices are coming down

President Muhammadu Buhari’s media aide, Garba Shehu has said prices of food items in the country are already dropping.

Shehu made the statement on Friday, September 11, when he spoke on Channels TV program,

Presidency aide, Garba Shehu says food prices are coming down

The presidential aide said the prices of food products were reduced due to the agricultural reforms of President Buhari.

According to Shehu, experts who recently surveyed the markets found out that the prices of some food items had reduced.

He disclosed that millets that had gone up to N24,000 have now gone down to N12,000, N13,000, white rice that had been N25,000 is now N20,000.

The aide stated that corn, maize is now N18,000 for the old stock and N14,000, N15,000 for the new stock.

He dismissed the suggestion that the cost of food items was connected to the closure of the borders.

Shehu also spoke in favor of the president’s directive that the Central Bank of Nigeria (CBN)not to release money for food and fertilizer importation henceforth.

He disagreed with a senior lecturer in the department of economics, university of Abuja, Ahmed Adamu, who faulted the timing of the policy.

Shehu said that the move by President Buhari was action borne out of patriotism.

Meanwhile, rice farmers in Kebbi state say they may not be able to repay the loan given to them by the Central Bank of Nigeria (CBN) and state governments as a result of the massive flood that destroyed their farms.

According to The Nation, the rice farmers association in the northern state is now appealing to the CBN and state government to assist them by suspending the anchor borrower’s loan repayment from 2021 to 2022.

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