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

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

Foreign Reserves Climb $12.76 Billion in a Year, Gain $708 Million in September

Lagos Ports Handle 84.6% of Nigeria’s N41.44 Trillion Merchandise Trade in Q2

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 Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

by Victoria Attah
September 17, 2026
0

The Federal Government raised N748.64 billion from its September 2026 domestic bond auction, with investors showing strong demand for both...

NEC Affirms CBN $3 Billion Loan for Naira Stability

Foreign Reserves Climb $12.76 Billion in a Year, Gain $708 Million in September

by Victoria Attah
September 17, 2026
0

Nigeria’s gross foreign exchange reserves rose by $12.76 billion year-on-year to $54.61 billion as of 14 September 2026, reinforcing the...

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

Lagos Ports Handle 84.6% of Nigeria’s N41.44 Trillion Merchandise Trade in Q2

by Stephen Akudike
September 15, 2026
0

Lagos ports processed an estimated N35.07 trillion, or about 84.6 per cent, of Nigeria’s N41.44 trillion total merchandise trade in...

Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

FG Raises N728.98 Billion Bond to Clear Power Generators’ Debts

by Jide Omodele
September 15, 2026
0

The Federal Government has raised N728.979 billion through the second issuance under its N4 trillion Power Sector Multi-Instrument Issuance Programme,...

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 Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

September 17, 2026
Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

September 17, 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
  • FX Market Turnover Surges to $3.05 Billion, Highest in Three Months

    0 shares
    Share 0 Tweet 0
  • What Nigerian should know about the new Dual-Purpose Debit Card and National Identity Card

    0 shares
    Share 0 Tweet 0
  • Venezuela’s Petrostate Peril: Challenges and Warnings for Oil-Dependent Nations

    0 shares
    Share 0 Tweet 0
  • Ecobank Raises $125 Million via Eurobond Tap to Bolster Liquidity

    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}
?>