The Federal Government has given the assurance that food prices will crash from this year,following massive distribution of fertilizers to farmers across the country to boost harvest.
Minister of Finance,Kemi Adeosun,made this known in Abuja while giving details of plans by the Federal Government to assuage food price hike, as well as low farming yield experienced last year.
According to the minister, the reason that food prices were high nationwide last year was because there was low farming yield due to lack of fertilizers to boost harvest,a situation she noted had impacted on prices.
The minister attributed the shortage of fertilizers to inability of the past administration to make payment for subsidy of fertilizers,adding that the last time fertilizers were procured to support farmers was in 2013.
She however noted that Nigerians will soon begin to feel the impact of extensive deployment of fertilizers which the present administration has embarked upon to ensure food sufficiency at lower prices.
"There is currently a massive investment by the Mohammed Buhari administration into fertilizer supply to farmers.This is intended to boost agriculture yield this year.The reason that agriculture produce had low yield last year and as such people experienced high prices was because fertilizers were scarce and out of the reach of farmers.The last time fertilizers were paid for to subsidize farming was in 2013",the minister noted.
According to her, the present administration is keen to return to the days when farmers are provided fertilizers to boost food production which in turn will boost employment and food sufficiency across the country.The target areas include, local rice production,millet,sorghum ,wheat,cotton,maize, among other cash crops.
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