Mohammed Idris, the Minister of Information and National Orientation, has reiterated the Federal Government’s commitment to lowering the cost of food commodities through massive investments in agricultural production.
Idris stated this in Abuja on Tuesday at a press briefing to kick-start the Ministerial Briefing Session for 2025.
He emphasized that while the government will not impose price controls on food commodities, in line with the principles of a free-market economy, it remains focused on reducing prices by boosting agricultural production and increasing supply.
“In the past, we used to have these commodity boards where prices were fixed, but in the spirit of a free market and encouraging entrepreneurship, especially within the agricultural value chain, the government didn’t feel that it was necessary for them to begin to control prices,” he explained.
He added that what the government is doing is to ensure that there is massive production of food items and it’s a supply and demand issue. “Once you have whatever you need in abundance, the tendency is that the price will automatically come down,” he said.