Nigeria declares state of emergency over food security, inflation

LAGOS (Nigeria): Nigeria has declared a state of emergency over food security and inflation in the country, the president announced Friday, Anadolu Agency (AA) reported.
 
“We declared a state of emergency and unveiled a comprehensive intervention plan on food security, affordability, and sustainability, taking decisive action to tackle food inflation,” Tinubu said on Twitter.
 
Nigeria, Africa’s leading economy, has been battling with inflation, particularly the high cost of goods, transportation, and energy, since January.
 
The rise was exacerbated by rising petrol prices and the end of subsidies on oil imports to the country.
 
A recent mid-year assessment of the country’s inflation rate by the Central Bank of Nigeria showed that food price inflation rose from 24.61 per cent in April to 24.82 per cent in May.
 
Dele Alake, a presidential spokesman, said on Thursday that the president was not unmindful of the pains Nigerians are experiencing.
 
He said the president is unveiling many measures to tackle the challenge.
 
“In the immediate term, we intend to deploy some savings from the fuel subsidy removal into the agricultural sector,” he explained.
 
On Thursday, the president submitted a proposal to parliament seeking 500 billion naira (US$643 million) to provide some relief, including subsidised transportation, fertilisers for farmers, and monthly support to citizens.
 
The legislature has yet to approve the proposal. – BERNAMA-ANADOLU