News in Brief:
-Facing protests over rising food costs, President Tinubu returns to Nigeria and orders an emergency meeting on food security.
-While assuring solutions are in sight, the government blames price increases on currency depreciation and potential profiteering, promising intervention measures.
President Bola Tinubu has returned to Nigeria on Tuesday, February 6, after a private visit to France. His return was marked with immediate pressure to address rising food prices and living costs that have sparked protests across the country, according to a local news report.
A few days prior, there were several reports about angry youths and women taking to the streets in Niger, Kano, and Ondo states. They expressed frustration with the economic situation.
In response, President Tinubu convened an emergency meeting of the Special Presidential Committee on Emergency Food Intervention, as a statement from the Minister of Information and National Orientation, Mohammed Idris, claims. He assured Nigerians that the government is taking action with solutions that are within sight.
While acknowledging the challenges, Idris insisted that Nigeria has enough food and blamed the price increases on a combination of factors like the depreciation of the national currency and potential profiteering by some in the supply chain.
Meantime, the government is reportedly in talks with millers and commodity traders to increase supply and stabilise the price of rice, a staple commodity. They are also considering security measures to address potential threats arising from the economic discontent.
This situation reflects the complex challenges facing Nigeria’s economy and underscores the urgency of finding solutions to ensure food security and alleviate the suffering of citizens.
