FG CONVENES EMERGENCY MEETING TO ADDRESS RISING FOOD PRICES

ment to increase trade finance and enhance the supply chains as a vital tool in addressing the current cost of living crisis.

The House further appealed to manufacturers, producers, middlemen, sellers of goods and services, and other relevant stakeholders to be realistic in fixing prices of their goods and services, especially, items not dependent on the foreign exchange, like raw materials for cement, which are sourced locally.

The resolutions followed the adoption of a motion under matters of urgent national importance on the urgent need for government action to reduce cost of living, moved by Hon. Isiaka Ibrahim, at plenary yesterday.

Ibrahim, while presenting the motion, anchored his argument on, "The cost of living, which has been a pressing issue for many citizens around the world, and the situation has only worsened in recent times,” adding, “The impact it has on individuals and families and the urgent need for government intervention to bring down the cost of living in Nigeria.”

He identified, "The skyrocketing expenses, such as housing, food, healthcare, and education, all of which have seen significant increases in prices.”

Ibrahim stated, “The current inflation has eroded the purchasing power of individuals with higher prices for goods and services. Stagnant wages and limited job opportunities have also further exacerbated the financial strain on individuals and families, making it increasingly difficult to make ends meet."

He stressed that the effect of the rising cost of living was particularly severe for low-income households, who were forced to make difficult choices between basic necessities.

Ibrahim stated, "The financial burden has also led to increased levels of stress and anxiety, contributing to a decline in overall well-being of the Nigerian citizens.

“Furthermore, the high cost of living hinders economic mobility, making it challenging for individuals to save for the future or invest in their education and career advancement.

"Aware that as at date, poultry meat is one of the most traded products in the world, the top exporters of poultry meat are Brazil, the United States, and other countries that export beef in the world are Japan; frozen bovine meat exports, Republic of Belarus, Republic of Nicaragua, Netherlands, Republic of Poland, Republic of Ireland, Canada and Republic of Paraguay.

"Despite its current export restrictions, India remains the world's largest rice exporting country with other major rice exporters that include Thailand, Vietnam, Pakistan, the United States, China, Burma, and Cambodia.

“These eight countries account for about 90 percent of the total volume of annual global rice exports."

The lawmaker said the various radical policies and approaches of the Nigerian government were not only necessary but compulsory to stimulate the economy, improve the standard of living and emergence of Nigeria as an economic destination of the world.

"But, the caveat is, the gestation period that has to come with unbearable hardship. Truly, incisions of tribal marks are associated with pains and only when it heals that the beauty radiates,” Ibrahim said.

Bauchi Governor to Introduce Policies to Stem Economic Hardship

Bauchi State Governor, Senator Bala Mohammed, expressed his determination to introduce policies and programmes aimed at alleviating the suffering among the citizenry. Mohammed disclosed this yesterday at Jama'are during the continuation of the week-long activities for the inauguration of road projects in some parts of the state.

The governor expressed concern over the rising price of essential commodities and the hardship it had brought on the citizens. He assured that his administration was determined to introduce measures that would improve commercial activities in the state.

He said the ongoing construction of rural roads was aimed at connecting communities to their farmlands and enabling smooth movement of goods and services.

Mohammed urged the people of Jama'are Emirate to cooperate with the contactors handling the project in the area to facilitate timely and successful completion.

Responding on behalf of the benefiting communities, Emir of Jama'are, Alhaji Nuhu Muhammadu Wabi, pledged the people's readiness to support all policies aimed at improving the wellbeing of residents.

APC: Opposition Parties Instigating Protests to Undermine Government

APC alleged that opposition parties had resorted to instigating unsuspecting young people to protest, following the protests that rocked Minna and Kano on Monday over the hardship in the country.

A statement issued yesterday by National Publicity Secretary of APC, Felix Morka, claimed that the protests in Minna and Kano on Monday were the manifestation of some devious and unpatriotic plot.

Morka stated, "It was part of desperation to portray the ruling party as underperforming. In its arrant desperation to portray the APC-led administration as underperforming, opposition parties have resorted to instigating unsuspecting young people to protests in the streets of some major cities.

"The protests in Minna and Kano on Monday were the manifestation of this devious and unpatriotic plot. That the protests happened simultaneously in both cities is not coincidental. It bears a bold stamp of an orchestrated and coordinated effort to instigate unrest and undermine the government.

“This mercenary opposition tactic is a clear and present threat to public peace and national security.

“While the party recognised the right of citizens to engage in peaceful protest, it urged the people to be vigilant and not lend themselves to the treacherous attempt by the opposition to promote social strife by its incendiary rhetoric and manipulative plots.”

Morka stressed that the President Bola Tinubu administration was solidly committed to doing everything in its power to mitigate the transient pains of critically important reforms that were crucial to economic recovery and sustainable prosperity for all Nigerians. PDP Slams Tinubu, APC for Attempting to Politicise Hardship, Insists Nigerians Have Right to Protest

The Peoples Democratic Party (PDP) condemned attempts by the presidency and APC to politicise the protests by Nigerians over economic hardship and worsening insecurity in the country.

National Publicity Secretary of PDP Debo Ologunagba said, "The action of the APC in threatening Nigerians for exercising their democratic and constitutional right to protest in the face of misrule, agonising poverty, hunger, killings and other harrowing experiences under the Tinubu administration shows that the APC is insensitive and relishes the life-discounting situation in the country.

"This approach by the APC, instead of listening to the people, is not only offensive, but akin to pushing Nigerians to the wall and daring them to do their worse."

The PDP spokesman said it was an assault on the sensibility of the people that rather than provide answers to how the Tinubu-led APC government, in a space of nine months, turned the country's economy upside down, leading to terrifying food scarcity and catastrophic high cost of living, APC was seeking to label and clamp down on the suffering masses.

According to Ologunagba, "The APC is insensitive to the fact that because of its policies more than 104 million citizens have sunk deeper into poverty; Nigerians can no longer afford their daily meals, with families now going to bed on empty stomach, as poverty rate soars to over 46 per cent.

"Any government that has an idea of macro-economic policy management ought to have recognised that the suffocating policies of abrupt increase in the pump price of petroleum products, high cost of electricity, and arbitrary floating of the naira, as executed by the Tinubu administration without due considerations, would have excruciating consequences to the economy, as being witnessed today."

PDP alleged, “The thoughtless policies by President Tinubu and the APC are responsible for the crippling of the productive sector with 28 per cent inflation rate, crashing of the naira from N167 to over N1, 500 to a dollar, closure of millions of businesses, and mass exodus of international companies from Nigeria, resulting to a distressing 41 per cent unemployment rate and unbearable pressure on millions of families across the country.

"Today, Nigerians are resorting to suicide while thousands of our promising youths are leaving the country in droves.

"Is it not provocative that in the last eight years and nine months, instead of deploying the nation's resources for the improvement of critical infrastructure and the productive sectors, Nigerians have witnessed massive looting of over N20 trillion by APC leaders and its officials in government through direct pillaging of government vaults, budget padding, contract inflation, oil subsidy scam, palliative racketeering and phony programmes, which have no benefit and consequence to the lives of the citizens?

"Since President Tinubu took office on May 29, 2023, no fewer than 5,000 Nigerians have been killed by terrorists, apparently, emboldened by the laidback attitude and body language of Mr. President, who has failed to show seriousness on issues of security or empathy to victims either by words or action."

Report: Nigerians Burdened with Food Price Fluctuation, Rising Cost

A research conducted between November and December 2023 by Consumer Advocacy and Empowerment Foundation (CADEF) revealed concerning trends in Nigeria's food pricing landscape.

According to the research report released yesterday, which spans the six geo-political zones, there were fluctuations in food prices, especially staple items, like yam, garri, rice, beans, chicken, and groundnut oil, within the period that the research was conducted.

Earlier research in August last year by both CADEF and Consumers International also revealed a substantial rise in retail/consumer prices compared to wholesale/ market prices for essential food items. This, according to analysts, suggested that Nigerian consumers were disproportionately burdened with increased costs, raising questions about fairness in the market.

Consumers International, representing consumers worldwide, developed a tool called the Fair Food Price Monitor. The tool tracks the relationship between food prices at different supply chain stages, utilising data from reputable sources, such as the National Bureau of Statistics and FEWS NET.

Specialist in Fair Food Prices in Africa at Consumers International, Davine Minayo, highlighted the importance of data-driven decision-making to address market imbalances.

According to Minayo, "Our collaborative efforts aim to shed light on the issues affecting consumers and farmers in Nigeria. Calls for a thorough investigation by national authorities have been made, especially in markets of concern."

Detailed analysis of farm gate, wholesale, and retail prices for commodities, such as maize, rice, beans, yam, palm oil, and chicken over the past three weeks revealed notable price fluctuations.

Executive Director of CADEF, Professor Chiso Okafor, stressed the need for regulatory intervention to ensure fair pricing in food markets.

Okafor said, "The findings underscore the urgent need for authorities to investigate and address any unfair practices that may be contributing to the burden on consumers and farmers."