The federal government has refuted claims that it is partly responsible for the current rising prices of food items in the country. There had been concerns that the government’s practice of mopping up grains into the national Strategic Grains Reserves (SGRS) during harvests was responsible for the high costs of food products in the market.
Food inflation has remained a major challenge in the Consumer Price Index (CPI), which measures inflation. Analysts also blamed the situation on demand-supply gaps as what is available can’t satisfy the demands of a growing population.
The composite food index rose to 17.20 per cent in March compared to 22.95 per cent recorded in March 2021. Month-on-month, the food sub-index increased to 1.99 per cent in March, up by 0.12 per cent from 1.87 per cent in February.
However, speaking against the backdrop of allegations that the federal government’s practice of mopping up grains was contributing to food inflation, the Minister of Agriculture and Rural Development, Muhammad Abubakar, told the media that he government was only buying off the excess grains in the market. But critics insisted that food production was not enough to talk about buying off excess grains.
