A chieftain of the All Progressives Congress (APC) in Osun, Olatunbosun Oyintiloye, has expressed deep concern over the rising food prices, stating that they are becoming increasingly worrisome and unbearable for the masses in the country.
Oyintiloye, a member of the defunct APC Presidential Campaign Council (PCC), made these remarks while speaking with newsmen on Sunday in Osogbo.
He emphasised that the significant increase in food prices has made it difficult for many people to afford nutritious meals.
He called for urgent action from governments at all levels to provide solutions to this pressing issue.
According to him, the costs of basic food items such as rice, beans, garri, semovita, and yam flour have soared, forcing people to settle for whatever food is available.
He attributed the rise in food prices primarily to factors such as insecurity, high transportation costs, climate change, and the instability of the naira’s exchange rate.
Oyintiloye noted that this drastic increase in food prices has adversely affected citizens’ purchasing power, resulting in heightened uncertainty, increased poverty, and a higher cost of living.
With food being essential for human survival, he urged all levels of government to implement effective programs aimed at combating hunger in the country.
According to the survey, known as the 2023/24 General Household Survey-Panel (GHS-Panel) launched on November 25 in Abuja, 65.8 percent of households are unable to access healthy, nutritious, or preferred foods due to low income.
Oyintiloye acknowledged that while the administration of President Bola Tinubu is making efforts to reduce food prices, many Nigerians are still struggling to obtain three square meals a day.
He commented that despite the federal government’s food waiver policy and the Central Bank’s interventions to curb inflation through monetary policy, food prices remain exceedingly high.
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“The exchange rate fluctuations further exacerbate this issue, particularly affecting the prices of imported food items
“The situation on the prices of food is becoming worrisome and extremely unbearable for the masses.
“Many households can no longer afford nutrition meals, while many are begging for survival. This is pathetic and no longer bearable for the masses. I urge Governors and the Federal government to intensify efforts and to stop further increase in the cost of food items. The situation may worsen, if factors leading to the increase are left unattended to, “he said.
Oyintiloye noted that the hike in food prices could worsen if immediate action was not taken to address the underlying factors driving food costs.
He urged the Federal Competition and Consumer Protection Commission(FCCPC) to continue to uphold their mandate by protecting and promoting the interest and welfare of the consumers by reviewing economic activities to enhance quality product at competitive prices.
As the festive period was approaching, he also urged governments at all levels to set up markets where food could be bought at a subsidised rate by the citizens as a temporary measure.
“Federal Government and States should set up food markets for people to buy basic food items at subsidized rate to cushion the challenge, at least for this festive season,” he concluded.
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