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In the face of soaring commodity costs, a growing number of Nigerians find themselves grappling with hunger, prompting the Financial and Business Online Publishers (FiBOP) to urgently call upon the Nigerian government to address this critical issue.
The escalating prices of essential food items have become a cause for concern, with rice hitting N1,200 per cup, a pant of garri at N2,200, and a cup of beans costing N1,000. These exorbitant prices underscore the pressing need for immediate intervention to ensure that basic necessities remain accessible to all citizens.
FiBOP emphasizes that the calculation of these prices is intricately linked to the availability of food and other essential living needs. While food is universally recognized as a fundamental requirement, the situation in Nigeria paints a stark contrast, with affordability turning into a luxury.
The relentless increase in food prices, exacerbated by inflation, has left many struggling to put meals on the table. Over the past year alone, food prices have surged by as much as 30 percent, affecting staples like rice, beans, yam, groundnut/palm oil, garri, egg, milk, wheat, spaghetti, sugar, flour, migraine, snack, sachet/table water, soft drink, beverages, bread, cereal.
FiBOP highlights the unpredictable nature of these price hikes, occurring almost daily and creating an untenable situation for countless citizens. The organization stresses that this alarming trend demands swift and decisive action from the Nigerian government.
In a statement, FiBOP urges President of Nigeria and the government to address this crisis promptly, recognizing the urgency of implementing measures that will curb inflation and stabilize food prices. The call emphasizes the importance of ensuring that essential items remain within reach for every Nigerian, preventing hunger from becoming an increasingly prevalent issue in the country.
As FiBOP amplifies the voice of those affected by these skyrocketing prices, it underscores the need for collective efforts to alleviate the burden on citizens and create a more sustainable and affordable food market.
