President (Asíwájú) Bọ́lá Ahmed Tinúbú – GCFR has expressed his disapproval of controlling prices to reduce food costs.
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Speaking during his first Presidential Media Chat on Monday, Tinubu emphasized that his government would not embark on price control as a means to address the cost-of-living crisis.
Tinubu stated, “I don’t believe in price control. What we have to do is to keep supplying the market. Market forces will naturally bring prices down.” He added that his focus is on ensuring the market is well-supplied to meet demand.
The President also addressed concerns about the high cost of goods and services, acknowledging that Nigeria is currently experiencing its worst cost-of-living crisis in a generation.
Despite calls to reduce governance costs, Tinubu revealed his reluctance to downsize his cabinet, stressing that efficiency and effectiveness are more important than the number of cabinet members.
Tinubu’s administration has faced criticism for its policies, including the removal of petrol subsidies and the floating of the naira, which have contributed to the rising cost of living.
However, he remains committed to his approach, believing that market-driven solutions are the best way to address the crisis.
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