Minister of Information and National Orientation, Mohammed Idris has said that the Federal Government remains committed to reducing food commodity prices through substantial investments in agricultural production.
In a press briefing held on Tuesday in Abuja to launch the Ministerial Briefing Session for 2025, Idris outlined the government’s strategy to address the rising cost of food without resorting to price controls.
Highlighting the importance of a free-market economy, he explained that while price controls on commodities were once common through commodity boards, the government now believes the solution lies in increasing agricultural output and boosting supply.
“The government is focusing on mass food production. When there is enough supply to meet demand, prices will naturally drop,” said Idris.
He emphasized that controlling food prices through the market forces of supply and demand would be more effective than direct price regulation, which could stifle entrepreneurship within the agricultural sector.
Idris pointed out that encouraging private sector involvement in agriculture is central to the government’s approach, helping to increase food availability and ultimately, reduce costs for consumers.
