The Federal Government has highlighted efforts made by the administration of President Bola Tinubu to bring down the prices of food.
One of the measures, according to the Minister of Information and National Orientation, Mohammed Idris, is the suspension of import duties and taxes on essential food items for a 150-day period.
He said this has not hindered the ramping up of local agricultural production over the medium and long term.
“A new Executive Order on Healthcare has also just been signed by the President, which will suspend import duties on pharmaceutical raw materials and equipment, to bring down the prices of drugs,” the Minister said in an address to the Diplomatic Community on Wednesday.
“So we have interventions in the areas of food and drugs.
“A third key area is fuel – which is where the Presidential Compressed Natural Gas (CNG) Initiative comes in, to expand access to CNG, which is significantly cheaper and cleaner as vehicle fuel than petrol and diesel,” he added, while adding that under this program, one million vehicles will be converted to CNG by 2027.
“Already, 30,000 Number of Conversion Kits are available for distribution, and 120 Conversion Centers have already been developed across the country. Additionally, 500 CNG buses and 5,000 CNG Tricycles will be deployed over the next 6 months.”
