Food inflation: Party chieftain lauds 50% subsidy on agric inputs

Olatunbosun Oyintiloye

An All Progressives Congress (APC) chieftain in Osun State, Olatunbosun Oyintiloye, has commended President Bola Tinubu for approving 50 per cent reduction in the cost of agricultural inputs ahead of commencement of dry season farming in the country. He noted that the subsidy would boost food production and availability amid rising inflation nationwide.

Addressing newsmen yesterday in Osogbo, the politician, who was a member of defunct APC Presidential Campaign Council (PCC), stated that the nation’s current food inflation, according to the National Bureau of Statistics (NBS), was 31.5 per cent.

Oyintiloye said the gesture was timely, observing that it would reduce food inflation across the federation. The ex-lawmaker maintained that the President’s to transform the agricultural sector and ensure food security had begun yielding fruit.

He expressed hope that the various agricultural interventions would promote pricing and surpluses in the coming days. The APC chieftain, however, appealed to the Federal Government to relate directly with small, large-scale farmers and relevant stakeholders in the agriculture value chain through their various associations.

This, he added, would enable them to access various government interventions without hindrances and make Nigeria self-sufficient in agricultural produce, thereby making prices of food items affordable.

Minister of Agriculture and Food Security, Abubakar Kyari, had on November 25 promised that government would support 250,000 wheat farmers with a 50 per cent input subsidy to cultivate about 250,000 hectares during the dry season.

He made the pledge during flag-off of the 2023/2024 dry session farming under the National Agricultural Growth Scheme and Agro-pocket Project at Kadume Village, Hadejia Local Council of Jigawa State. The minister said the support was to foster production of over 1.2 million tonnes of wheat during the farming session.

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