• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Inflation: Federal Govt To Convene Food Security Council Meeting

by Jonathan Nda-Isaiah
3 years ago
in Business, Cover Stories, News
inflation
Share on WhatsAppShare on FacebookShare on XTelegram

Federal government has resolved to convene the National Food Security Council meeting shortly due to the rising prices of food in the country. Minister of finance, budget and national planning, Zainab Ahmed disclosed this on Wednesday to State House correspondents after the Federal Executive Council (FEC) meeting presided over by Vice President, Yemi- Osinbajo at the Presidential Villa .

According to her, the Food Security Council chaired by President Muhammadu Buhari and co-chaired by the Kebbi state governor, Atiku Bagudu, would meet very quickly to address the issue of food inflation, and also provide a plan and some methods by which we can reduce the cost of food to support improved food prices for the citizenry.

Advertisement

She said the Council was briefed about the rising inflation rate and the need to manage the cost of inflation in the country.

The minister, who disclosed that the government was making efforts to address the declining sectors of the economy, said the Council received a report from her ministry for the first quarter of 2022 GDP which shows that the Nigerian economy had grown by 3.1% in the first quarter as against a growth of 0.5% in the corresponding period in 2021.

She said, “This growth shows gradual economic stability from the recession that we witnessed in 2020. And also it shows the six-quarter of positive growth that the Nigerian economy has presented.

“So, of the 46 economic activities, the bulk sector performance shows that the services sector grew strongly by 4.7%, agriculture also grew by 3.61%, Industry on the other hand contracted by -6.81%. and there’s also a significant contraction in the crude oil, petroleum, and natural gas sector of 26.04%.

RELATED

WDCL, Rolon Seals Firm To Drive Investment, Innovation In Africa’s Energy Sector

WDCL, Rolon Seals Firm To Drive Investment, Innovation In Africa’s Energy Sector

18 minutes ago
Commissioner Tasks School Heads On Sexual Harassment

Commissioner Tasks School Heads On Sexual Harassment

41 minutes ago

“Coal mining sector also declined oil refining, the biggest contraction of 44.26%. the electricity sector, textile outcome. Therefore, even though there has been growth in some sectors, there is a significant contraction in others but the net effect is positive growth.

“We’re very mindful of the fact that unless we have most of the sectors growing, especially the growth in the jobs impacted sectors, that this growth that is positive will not be directly felt by the people,”

According to her: “We also reported to Council that inflation has started going upward to the extent that the monetary authorities of the Central Bank have had to adjust the Monetary Policy Rate (MPR) to 13% at the last Monetary Policy Committee (MPC) meeting and that’s an attempt to manage the cost of inflation.

“So, the Council has decided to set up a special effort to look at the sectors that are not growing and also to look at how we can grow the other sectors better.”

Meanwhile, Council also approved a total sum of N23.115 billion for contracts in both Police Affairs and Petroleum Resources ministries.

While the Police Affairs ministries got the sum of N8,315,209,825 for procurement of raincoats, Police boots, and others, the Petroleum Ministry got N11 billion for contracts.

Giving the breakdown, the Minister of Police Affairs, Maigari Dingyadi said the Council okayed the Memorandum of Understanding for the purchase of 82 Toyota brand of vehicles.

“N1.9 billion for customized raincoats; customized Police boots at N576 million; Micro First Aid Kits for the police at N1 billion; customized instructional materials for the police colleges and schools at N664 million and supply of drugs and medical equipment for police hospitals across the country at N2 billion,” he said.

The minister of state, petroleum resources, Timipre Sylva, disclosed that the council approved the memo for the NNPC Limited to execute a Memorandum of Understanding with ECOWAS for the construction of the Nigeria-Morocco Gas Pipeline to take gas to 15 West African countries and through Morocco to Spain and Europe.

He said, “Council also approved the construction of a switchgear room, an installation of power distribution cables and equipment for the Nigeria oil and gas park in Ogbehia Bayelsa state in the sum of N3.8 billion. this park is to support local manufacturing of components for the oil and gas industry.

“Council also approved various contracts for the construction of an access road with bridges to the brass petroleum product depot in Nibomoyekiri in Brass local government in the sum of N11 billion plus 7.5% VAT.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: inflation
SendShareTweetShare
Previous Post

FEC Okays NNPC, ECOWAS’ Nigeria-Morocco Gas Pipeline Deal

Next Post

Native Doctor, 70, Nabbed Over Beheading Of Anambra Lawmaker

Jonathan Nda-Isaiah

Jonathan Nda-Isaiah

You May Like

WDCL, Rolon Seals Firm To Drive Investment, Innovation In Africa’s Energy Sector
News

WDCL, Rolon Seals Firm To Drive Investment, Innovation In Africa’s Energy Sector

2025/07/03
Commissioner Tasks School Heads On Sexual Harassment
News

Commissioner Tasks School Heads On Sexual Harassment

2025/07/03
Savannah Energy Empowers 100 Students
Business

Savannah Energy Empowers 100 Students

2025/07/03
WBFA, Reckitt Inaugurate 106 Students As Hygiene Ambassadors
Health

WBFA, Reckitt Inaugurate 106 Students As Hygiene Ambassadors

2025/07/03
Strike: The Fate Of FCT Primary School Teachers, Pupils
Education

Strike: The Fate Of FCT Primary School Teachers, Pupils

2025/07/03
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives
Business

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

2025/07/03
Leadership Conference advertisement

LATEST

WDCL, Rolon Seals Firm To Drive Investment, Innovation In Africa’s Energy Sector

Wimbledon: Sabalenka, Keys Advance To 3 Round

I’ll Ensure Club World Cup Never Hold Again – La Liga President

Djokovic Thanks ‘Miracle Pills’ After Wimbledon Win

Transfer: Eberechi Eze Sets For Arsenal Move

I Would Like To Play With Williams At Barca – Torres

Juventus Denies Interest In Osimhen Amid Transfer Speculation

NFF Names 16 Referees For NNL Super 8 Playoffs

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

2026 C’wealth Games: Tinubu Receives King’s Baton, Vows To Unite Nigerians Through Sports

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.