The Federal Government expressed their worries over the protest that occurred in Niger and Kano states which was as a result of hike in price of Goods and increase in cost of living.
Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun spoke during a bilateral meeting with a visiting German delegation, led by the country’s Minister of Economic Cooperation and Development (BMZ), Ms Svenja Shulze in Abuja on Monday.
Mr Olawale Edun said the increase in price of Goods which causes hardship to the citizen was triggered by the demand and supply forces
On Monday, the Kano state governor, Abba Yusuff, lamented on the state of hardship in the state as it causes deaths, malnutrition, sicknesses and many more to the citizens.
The state government blamed food speculators for the protests.
The police said they used “minimum force” to disperse protesters who blocked the Minna-Bida Road and arrested some whose activities were obstructing vehicular and human movement.
Edun said the only way to address the situation is to increase the rate of production in order to pull down the inflation in the state.
Speaking alongside Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, Edun said, “I think the issue of rising prices is of concern to the government and everybody in Nigeria,” and some major steps were being taken to address the situation.
He also added “The president has intervened in that sector to provide grain, fertilizers to farmers and to bring additional acreage, rice, wheat, maize, and cassava – to increase the output and thereby bring down prices and that will help bring down inflation.”
“And, of course, we are in the middle of the dry season farming and we are looking forward to a good dry season harvest that will ameliorate price, in particular, and the price level in Nigeria, in general.”
Edun said the partnership with Germany offers an opportunity for skills development between both parties, adding that it would help to boost job creation and reduce poverty.
Uzoka-Anite also said the partnership with Germany was aimed at developing Nigeria’s Small and Medium-sized Enterprises (SMEs) subsector. She added that a Memorandum of Understanding (MoU) would soon be signed by both countries in this regard to improve access to finance for women-owned enterprises.
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