Hunger Crisis: I don’t believe in price control, says Tinubu

President Bola Tinubu has ruled out price control in the food commodity as a strategy to address the hunger crisis in the country.

He said that market forces of supply and demand are better suited to stabilise the economy.

Tinubu made this knwon while speaking at his first media chat on Monday in Lagos.

Tinubu noted the need to focus on improving supply chains and allowing market dynamics to take their course.

When asked if he would consider price control, the president said, “I don’t believe in price control; I don’t.”

“We just continue to supply the market; we work hard to supply the market. It is a question of supply and demand. It will come to a stage where you cant hold no more; it will come to a state when the community variable will come against you.”

The president’s statement comes amid widespread public outcry over the rising cost of food and essential commodities.

The Guardian reports that palliative distributions in Ibadan, Anambra and the Federal Capital Territory recently resulted in stampedes, with no fewer than 60 lives lost to the incidents.