President of the All Farmers Association of Nigeria, Kabir Ibrahim, has stated that food prices will increase following removal of fuel subsidy by President Bola Tinubu.
Ibrahim, speaking in an interview with the Punch Correspondent, said, “The situation is dire right now. Food price rise as a result of the hike in petrol price is non-negotiable. That is a reality. The issue now is, by how much or per cent will this increase be?”
“Fuel is being sold at over N500/litre, so the fact is that once transportation increases, the prices of transport will be transferred on food. So, as people pay a lot to bring the food to where it is needed, the prices will increase.
“Therefore, I foresee a situation where the prices of food items would take the biggest hit and would definitely rise because of the increase in the pump price of petrol.”
NatureNews recalls that the president during his inaugural speech declared that fuel subsidy will be removed.
Though not fully implemented, last week, the Nigerian National Petroleum Company Limited released new prices of fuel across states.
Speaking to some Nigerians, NatureNews correspondent gathered that a resident in Abuja lamented that presently, a modu of garri is now selling at N700.
In Port Harcourt, prices of meat, tomatoes, rice, beans and garri have also increased.
Recently, Nigeria Young Farmers Network (NYFN) advised the Federal Government to divert large percentage of funds saved from fuel subsidy withdrawal to National Agricultural Development Fund (NADF).
Dr Abubakar Musa, the National President of the organisation said that this would foster sustainable agricultural practices and support the growth and development of the nation’s agricultural sector and enhance food security.