Kreston Pedabo’s Post

In a bid to alleviate the soaring prices of essential food items across Nigeria, the federal government has announced sweeping measures to facilitate the importation of key commodities without levies or duties. The Minister of Agriculture and Food Security, Abubakar Kyari, revealed that the government has earmarked a substantial N2 trillion to combat food inflation. Minister Kyari disclosed during a press briefing in Abuja that the government has implemented a 150-day duty-free import window specifically targeting food commodities. This initiative encompasses maize, husked brown rice, wheat, and cowpeas, aiming to bolster food availability through both land and sea borders. Tap the link in our bio to read more. #FoodPrices #NigerianEconomy #FoodSecurity #EconomicPolicy #taxreform

Allow importation of food to reduce hyper-inflation, food scarcity in Nigeria – TUC tells Tinubu #food #inflation #importation #businessday https://lnkd.in/db4vXKe2

For decades, policy and markets have been designed to keep food cheap, but at the expense of workers and the environment. If food prices are rising because they are starting to reflect the true social and ecological costs of production, we will need to enter a broader conversation about economic and livelihood reform to ensure that everyone can afford food. But without a clear picture of the actual drivers, we lack the necessary information for developing policies that protect the rights and well-being of Canadians. For something as essential as food, Canadians deserve the full story.  Philip A Loring and Ryan M. Katz-Rosene - The Conversation https://lnkd.in/eg55Eewf

beggar-thy-neighbour policies is a term used for a set of policies that a country enacts to address its economic woes that, in turn, actually worsen the economic problems of other countries. Countries should avoid protective beggar-thy-neighbour food policies, such as trade barriers enacted through tariffs or quotas in these times of crisis. https://aje.io/plagy

Last month, Nigeria’s Minister of Information, Mohammed Idris, said that the country may resort to more food importation to address the surge in food prices. In fact, about a week ago, the President of Trade Union Congress (TUC), Festus Osifo, asked the Nigerian government to drive immediate importation of essential food items. What they likely don’t know is that there has been a steady rise in the inflation rate for imported food in at least the past one year. Therefore, more food importation may likely not reduce general food inflation in Nigeria.

🚨 Romania's Food Price Cap: A Double-Edged Sword? 🚨 The Romanian government's recent decision to cap profit margins on locally produced food at 20% is stirring significant debate. While the move aims to curb inflation and protect consumers, it faces strong opposition from the food industry and retailers. 💡 Pros: - Prices have dropped 20-30% year-over-year in June 2024. - Supports consumers in a high-inflation environment. ⚠️ Cons: - Industry groups warn of potential disruptions, reduced product availability, and quality. - Retailers and the meat industry express concerns about long-term impacts, including on exports. As Romania navigates these complex challenges, finding a balance between consumer protection and market stability will be key. Read more: https://lnkd.in/d4EnkDkk #Romania #Economy #FoodIndustry #Inflation #meatborsa #meatnews

Nigeria’s food prices surged by nearly 40% year-on-year in October, reflecting an increase from 37.77% in September, according to data released by the National Bureau of Statistics (NBS). The report also showed that the country’s overall inflation rate rose to 33.9% in October, up from 32.7% the previous month, driven largely by the persistent rise in food costs. National Bureau of Statistics NigeriaAfrica Finance CorporationNational Agency for Food and Drug Administration and Control (NAFDAC) #nigeriafood #sustainablefood #harscoglobal https://lnkd.in/eU3JMJBu

Here is a big problem , Romanian Post and other post offices in Europe does not allow senders to send food, grains or other perisable goods via mail and lets not forget Covid pandemic, so how we going to send the samples to importers that want to test products? There is food trade barriers that is making food expensive worldwide.

Should a country only be allowed to have a population that it can feed without having to import food? Should countries be allowed to export food, if it is necessary to import food simply to replace the food that is exported? Surely there is an unnecessary environment impact by doing these things.....?

The rising prices of food items in Nigeria are a complex issue with multiple contributing factors. From the insecurity that keeps farmers away from producing food to the challenges posed by the forex market, supply chain disruptions, extortion, and poor infrastructure, the government’s inaction and complicity have exacerbated the situation. To address this pressing issue, the government must take decisive action and implement comprehensive reforms that address the root causes of food inflation. Only then can Nigerians hope to enjoy fair and affordable prices for their essential food items.#RisingFoodPrices #NigeriaFoodCrisis #ForexChallenges #SupplyChainDisruptions #ExtortionOnRoads #TransportationCosts #GovernmentInaction #FoodSecurity #InfrastructureReform #ComprehensiveReforms #NigerianFarmers #StabilizeForex #InvestInAgriculture #ReduceFoodImport #EndCorruption #FairFoodPrices #EconomicRecovery #FoodInflation #NigeriaEconomy #SustainableAgriculture