The Federal Government has voiced its apprehension regarding the escalating prices of food and commodities in the country, citing recent protests in Niger and Kano as evidence of growing discontent among citizens.
Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, addressed the issue during a meeting with a visiting German delegation led by Minister of Economic Cooperation and Development, Ms. Svenja Shulze.
Edun attributed the situation to demand and supply forces and emphasized the need to boost agricultural production to alleviate inflation.
He highlighted ongoing government interventions to support farmers and increase agricultural output. Additionally, Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, discussed a partnership with Germany aimed at developing Nigeria’s Small and Medium-sized Enterprises (SMEs) subsector, with a focus on improving access to finance for women-owned enterprises.
The collaboration aims to enhance talent acquisition, renewable energy development, and job creation, aligning with Nigeria’s efforts to industrialize and address underlying causes of security challenges.