Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced that food inflation is decreasing and the government is committed to maintaining this trend.
Speaking at the National Economic Dialogue in Abuja, Edun stated, “Food inflation in particular, as we know it, has started coming down. Overall, inflation has started coming down, first of all, it slowed, and now at 33 per cent, it is one per cent lower than it was last month, and we are planning on maintaining that trajectory of downward inflation.”
He assured Nigerians of affordable food prices and emphasized the need for the private sector to drive the agricultural sector.
Edun noted, “Government has its role to play, but the private sector clearly has an important role to play… Overall reduction in food inflation and more availability of food at affordable prices is the goal of the administration in the immediate term.”
The minister also highlighted the government’s efforts to improve the business environment and attract investment, citing the recent launch of the “First US Dollar Domestic Bond Financing” as an example.
Edun emphasized the importance of perseverance in achieving economic reforms, saying, “The thing you do when you do not succeed at first is keep trying, don’t just give up… if you keep on the path, normally nobody will plan a path that is not successful.”
