RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Governors and FG Unite to Tackle Food Inflation, Insecurity

Victoria Attah by Victoria Attah
June 20, 2025
in Economy, inflation
Reading Time: 2 mins read
A A
0
Nigeria’s Inflation Climbs to 19.6% in July 2022
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Nigeria’s 36 state governors, under the Nigeria Governors’ Forum (NGF), have partnered with the Federal Government to address soaring food inflation and insecurity, focusing on harmonizing levies, removing illegal checkpoints, and improving goods transportation. This follows a meeting with National Security Adviser Nuhu Ribadu and key ministers, highlighting how unauthorized levies, excessive checkpoints, and poor infrastructure drive food price spikes.

Food Inflation Challenges

Despite a year-on-year food inflation drop to 21.14% in May 2025 from 40.66% in 2024, due to a statistical base-year change, month-on-month inflation rose to 2.19% from 2.06%, signaling persistent price pressures. The National Bureau of Statistics noted high prices for staples like yam, pepper, cassava, and maize, particularly in food-producing states, exposing a gap between production and affordability. Supply chain disruptions, insecurity, and high transport costs remain key culprits.

AlsoRead

Nigeria Records N366bn Drop in Exports to US as Imports Surge in Q1 2026

NGX Sheds N11.6 Trillion in June as Bull Run Hits Sharp Correction

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

Collaborative Solutions

Lagos Governor Babajide Sanwo-Olu, delivering the NGF’s communiqué, outlined plans to streamline levies and dismantle unauthorized checkpoints to ease food supply chain inefficiencies. An inter-ministerial committee has submitted recommendations to address these issues, with governors pledging collaboration with federal authorities. Imo Governor Hope Uzodimma emphasized the adoption of state-level security systems to complement federal efforts, citing Imo’s success in deploying community-based security models to curb threats and boost confidence.

NG-CARES Funding Concerns

The NGF expressed frustration over the World Bank’s unfulfilled funding pledges for the Nigeria Community Action Recovery and Economic Stimulus (NG-CARES) program, despite states investing over $2.2 billion, benefiting 17 million people. Governors urged resolution before advancing to NG-CARES 2.0, aimed at building resilience for vulnerable households.

Insecurity and Response

The initiative follows a deadly attack in Yelewata, Benue State, on June 13, where approximately 200 villagers were killed, prompting President Bola Tinubu’s visit and orders for arrests. Uzodimma reaffirmed governors’ commitment to lawful security measures, aligning with Tinubu’s strategy to empower states and communities to tackle persistent challenges.

 

Tags: #inflation
Previous Post

Bitcoin Stalls Amid Israel-Iran Tensions and Hawkish U.S. Fed Policy

Next Post

Pension Assets in Nigeria Surge to N23.33 Trillion in Q1 2025, PenCom Reports

Related News

FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties

Nigeria Records N366bn Drop in Exports to US as Imports Surge in Q1 2026

by Victoria Attah
June 30, 2026
0

Nigeria’s exports to the United States declined significantly by N365.64 billion in the first quarter of 2026, even as imports...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

NGX Sheds N11.6 Trillion in June as Bull Run Hits Sharp Correction

by Jide Omodele
June 29, 2026
0

The Nigerian stock market has recorded one of its steepest monthly declines in recent years, losing approximately N11.6 trillion in...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

by Stephen Akudike
June 29, 2026
0

Nigeria’s exports to the United States declined sharply by N365.64 billion in the first quarter of 2026, even as imports...

Navigating Inflation Crossroads: Nigeria’s Economic Odyssey Amidst Global Trends

S&P Global Raises Nigeria’s 2026 Inflation Forecast to 16.9% Amid Energy Pressures

by Victoria Attah
June 26, 2026
0

Global ratings agency S&P Global has revised its inflation projection for Nigeria upward to 16.9% for 2026, citing stronger-than-expected transmission...

Next Post
Pension Fund Assets in Nigeria Surpass N17 Trillion, Showing Steady Growth.

Pension Assets in Nigeria Surge to N23.33 Trillion in Q1 2025, PenCom Reports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FG 2053 Bond Records $364 million Subscription as Investors Seek Record Yields

DMO Plans N4 Trillion FGN Bond Issuance for Third Quarter of 2026

June 30, 2026
FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties

Nigeria Records N366bn Drop in Exports to US as Imports Surge in Q1 2026

June 30, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Forex Market Activity Surges as Naira Records Modest Weakening

    0 shares
    Share 0 Tweet 0
  • Naira Holds Firm at N1,380/$ as FX Inflows Reach One-Year High

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

    0 shares
    Share 0 Tweet 0
  • Nigeria’s oil output rises by 31million barrels.

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>