Food Inflation: Hike in S’West, S’East as prices drop in North
Also, a 50kg bag of maize that sold for N68,000 in May now goes for N78,000, while a bag of white garri spiked to N60,000.
Where Truth Meets Purpose
Also, a 50kg bag of maize that sold for N68,000 in May now goes for N78,000, while a bag of white garri spiked to N60,000.
They also called on President Bola Tinubu to intervene in the issue, stressing that Dangote alone cannot handle nationwide distribution of products sustainably.
The budget set to be mainly funded from oil revenue, was benchmarked on 2.06 million bpd oil output, $75 per barrel and an exchange rate of N1, 500/dollar.
“Importation is not killing the economy. Importation is stabilising the sources of petroleum products. Importation of all products is useful.
He also criticized the continued borrowing spree by the Federal Government without tangible improvements in infrastructure, education, or healthcare.
“Electricity is not stable, we use generators in order to mill rice for at least eight hours, cost of fertilisers is high and even to cost of labourers. “
“Lagos is Nigeria’s food market, and we consume over 50 per cent of the food that is traded in the southwest part of the country.
He said: “As we speak today, we buy 9–10 million barrels of crude monthly from the US and other countries.
Dangote said he was unapologetic in saying that some foreign actors were attacking all industries through importation.
Checks revealed that as of Friday, no fewer than 25 marketers had signed up with Dangote refinery for the direct fuel distribution deal.