President Muhammadu Buhari said the sharp rise in food prices in Nigeria was caused by middlemen buying and storing basic necessities.
The president said this Friday during a televised broadcast on the 61st anniversary of Nigeria’s independence.
The president’s remarks come as prices of staple foods (nuts, grains, protein and vegetables) in Nigeria rose by an average of 98.85 and 99.9 percent, respectively, over the past year.
“Unfortunately, as our food production capacity increases, food prices go up due to congestion caused by middlemen buying and holding basic necessities,” said Bukhari.
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