Tinubu vows to tackle food inflation, high cost of living as Osoba urges cooperation with FG

President Bola Tinubu has pledged that his administration will tackle food insecurity and reduce the cost of living for Nigerian citizens.

To address the rising food prices across the country, the government said it has decided to temporarily suspend tariffs on imported grains and other essential food items.

This was said on Saturday at the public presentation of Olusegun Osoba’s book, “My Life in the Public Eye,” where Tinubu, represented by Vice President Kashim Shettima, highlighted both immediate relief measures and long-term strategies for self-sufficiency in food production.

Nigeria is currently contending with a record high inflation rate at 33.95 percent in May 2024 due to the two-time devaluation of the naira and removal of petrol subsidy.

The inflationary trends have raised Nigeria’s interest rates by a combined 750 basis points from 18.75 percent last July to 26.25 percent in May as the central bank continues to deploy monetary tools to restore the battered economy.

The National Bureau of Statistics (NBS) said food inflation rose to 40.66 percent in May, compared to the 24.82 percent reported in the same month last year — indicating an increase of 15.84 percent points.

The bureau said semovita, oatflake, yam flour prepackage, garri, bean, etc (which are under bread and cereals class), Irish potatoes, yam, water yam, etc (under potatoes, yam and other tubers class), contributed to the year-on-year increase in the food inflation rate.

Other contributors are palm oil, vegetable oil, etc (under oil and fat), stockfish, mudfish, crayfish, etc (under fish class), beef head, chicken-live, pork head, and bush meat (under meat class).

Tinubu’s remarks came against the backdrop of a senate call for the federal government to urgently address food insecurity.

At the event in Lagos, Tinubu emphasised that these measures are part of a broader strategy to improve living conditions. “We are taking steps to address food shortages by temporarily removing tariffs on imported grains and other food items,” he said.

He also reiterated the importance of boosting local production, stating, “We will continue to drive local production and ensure that we produce what we eat and use locally.”

Tinubu stressed the necessity of unity and cooperation among Nigerians to overcome the nation’s challenges.

He called for support for the administration’s efforts to enhance living conditions, noting that “as we work to overcome our current challenges, we must remember that unity and cooperation are essential.”

Osoba, a former governor of Ogun, who also celebrated 85th birthday at the book launch, echoed these sentiments, urging Nigerians to support Tinubu’s efforts to transform the country.

The celebrant expressed optimism that the current hardships would eventually lead to a period of prosperity. “Our leader in Yorubaland, the late Obafemi Awolowo, said after darkness, there will be a great dawn and a great light. I’m confident that after all that is going on, that the great dawn and the great light will manifest,” Osoba said.

The event also celebrated Osoba’s contributions to journalism and politics. Tinubu, along with other dignitaries including Senate President Godswill Akpabio and Secretary to the Government of the Federation Senator George Akume, commended Osoba’s lifelong service.

Tinubu referred to Osoba as “Aremo 1” and praised his role in Nigeria’s democratic development, particularly his bravery during the military era.

Osoba’s investigative journalism led to the discovery of the bodies of Nigeria’s first Prime Minister, Tafawa Balewa, and Finance Minister, Sir Okotie Eboh, after they were killed in the country’s first military coup.

The book presentation also featured speeches from several prominent figures. Senate President Godswill Akpabio described Osoba as a man blessed with a long life who had significantly shaped democracy in Ogun State and Nigeria.

Secretary to the Government of the Federation Senator George Akume praised Osoba’s attributes and his commitment to Nigeria’s democratic development.

Ogun State Governor Dapo Abiodun lauded Osoba’s contributions to journalism and public service, noting that his legacy would continue to inspire future generations.

Lagos State Deputy Governor Obafemi Hamzat, representing Governor Babajide Sanwo-Olu, appealed for constructive public commentary to support national development.

Former Delta State Governor James Ibori highlighted Osoba’s wisdom and his readiness to provide good counsel.

Other notable attendees included former President Olusegun Obasanjo, Deputy Senate President Senator Barau Jibrin, Minister of Marine and Blue Economy Gboyega Oyetola, Senators, former governors, business leaders, and media executives.

They all paid tribute to Osoba’s legacy and called for continued support for Tinubu’s administration in delivering effective governance and economic stability for Nigeria.

Tinubu also expressed gratitude for Osoba’s health and contributions, wishing him many more years of good health. He encouraged other leaders to follow Osoba’s example by documenting their experiences to provide guidance for future generations.