President Muhammadu Buhari has stated that the significant spike in the prices of food in Nigeria is caused by middlemen who have been buying and holding essential commodities.
The president stated this Friday during a televised broadcast to commemorate the 61st anniversary of Nigeria’s independence.
The president’s comments come as prices of major staple foods (legumes, cereals, proteins and vegetables) in Nigeria have risen at an average of about 98.85 and 99.9 per cents respectively in the last year.
“Unfortunately, as our food production capacity has increased, food prices continue going up due to shortages created by middlemen who have been buying and holding the essential commodities,” Mr Buhari said.
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