FG making concerted efforts to reduce food importation – Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the Federal Government is actively working to decrease food imports.

During an inter-ministerial press briefing held as part of Nigeria’s 64th Independence Anniversary celebrations, Edun emphasized that the government’s long-term agricultural objectives are already producing positive outcomes.

He highlighted that the availability of seeds and seedlings for farmers is a key initiative aimed at enhancing food production.

Edun also remarked that the removal of the fuel subsidy, a decisive action by President Tinubu, has garnered support from international financiers.

While acknowledging the challenges faced by Nigerians due to the subsidy removal, he noted that the government has introduced several interventions, including direct payments of N75,000 to 15 million households, to alleviate the burden.

He mentioned that just last week, payments to 840,000 households had already been processed.

Regarding the petroleum sector, the Minister pointed out that the President has implemented significant changes to enable domestic operators to purchase crude from local refineries using naira.

Edun concluded by stating that efforts to stabilize the economy are yielding positive results, as evidenced by decreasing inflation, a stabilizing exchange rate, and increasing national reserves.