After Monday’s Federal Executive Council (FEC) meeting, the Federal Government of Nigeria has commenced efforts to address food shortages by distributing 20 trucks of rice to each of the 36 states and the Federal Capital Territory (FCT), Abuja.
Minister of Information and National Orientation, Mohammed Idris, announced this initiative as the government’s first step in alleviating food scarcity across the country. He urged governors to ensure the efficient distribution of these grains to benefit the most vulnerable members of society.
Meanwhile, Nigeria’s inflation rate has soared to 34.19% for June 2024, according to the latest figures released by the National Bureau of Statistics (NBS). This increase correlates with a rise in food inflation compared to May 2024.
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“On a month-on-month basis, the Food inflation rate in June 2024 was 2.55%, marking a 0.26% increase from the rate recorded in May 2024 (2.28%),” the NBS report detailed.
The spike in inflation was driven by higher prices of essential food items such as groundnut oil, palm oil (oil & fats class), and staples like water yam, cocoyam, cassava (potatoes, yam & other tubers class).
The cost of seafood including tobacco, catfish, croaker, mudfish, and snail (fish class) also contributed to the overall increase in food prices.
The government’s distribution of rice aims to mitigate the impact of rising food costs, providing immediate relief to vulnerable populations amidst economic challenges.
