FG Targets Lower Food Costs with Increased Investments in Agricultural Sector

The Federal Government has reaffirmed its commitment toward lowering the cost of food commodities in the country.

According to Mr. Mohammed Idris, the Minister of Information and National Orientation, the government plans to achieve this by investing heavily in agricultural production.

Idris said the government will not impose price controls on food commodities, instead focusing on reducing prices by boosting agricultural production and increasing supply.

He said the government’s approach is centered on ensuring abundant food production, which will naturally lead to lower prices.

“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.

The minister also said the government’s successes in the security sector, noting that in 2024, security forces neutralized over 8,000 terrorists and bandits, arrested 11,600 others, and recovered more than 10,000 weapons. Additionally, around 8,000 kidnap victims were successfully rescued.

“While we still have a lot of work ahead, our highways have grown safer. The hitherto notorious Abuja-Kaduna highway is one example. As I said, there’s still much more to be done, and we will not relent in our effort.

“Additionally, about 8,000 kidnap victims were successfully rescued. We will continue to work to drive down the number of victims while scaling up our success stories in terms of deterrence, crime-solving, and prosecutions,” he said.

On the economy, Idris said the federal government’s reforms are yielding significant results across key sectors.

According to him, the removal of fuel subsidy has plugged leakages amounting to hundreds of billions of Naira annually, while the introduction of the Electronic Foreign Exchange Matching System (EFEMS) has enhanced transparency in foreign exchange transactions.

Nigeria, Idris noted, has become the most attractive destination for oil and gas investments in Africa, securing over $5 billion in Final Investment Decisions (FIDs) in 2024.

The minister described 2025 as a year of consolidation, building on the progress made in the first 19 months of the Tinubu administration as it approaches its mid-term.

“Over the next three months, as we approach the second anniversary of President Bola Ahmed Tinubu’s Administration, we will bring Honorable Ministers to this platform, on a weekly basis.

“This year 2025 is a year of consolidation, a year for building on the gains we have seen in the first 19 months of the administration.

“This maiden edition for 2025 is an opportunity to remind us of these gains, and to set the context in which these gains are being recorded, as we proceed into the mid-point of this administration,” he said.