Agric Minister’s Warning Against Hoarding and Speculative Trading of Grains Amid Rising Food Prices

Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, has issued a stern warning against hoarding and speculative trading of grains as the Federal Government intensifies efforts to scale up food production in the country.

The warning comes at a time when the nation is grappling with rising food prices and increasing food insecurity.

During a special Ramadan lecture organized by the Special Assistant to the President on Agriculture and Food Security, Mufutau Yinusa, and the Asiwaju Project Beyond 2023, an NGO, the minister expressed his concerns about the issue of hoarding and speculative trade by commodity traders, which he believes has exacerbated the problem of food insecurity.

The minister also highlighted the impact of insecurity on agricultural production, stating that it is one of the main factors contributing to the rising cost of food items.

He emphasized that apart from insecurity, the issue of hoarding has also played a significant role in worsening the situation.

In response to these challenges, the Federal Government has vowed to continue working tirelessly to ensure food security for the nation while addressing the insecurity challenge head-on.

The Minister of State for Agriculture and Food Security, Aliyu Abdullahi, called on Muslims to use the Ramadan period to pray for the nation and its leaders, reiterating the government’s commitment to working with relevant stakeholders to address the economic challenges facing the country.

As the nation grapples with the challenges of food insecurity, the government’s warning against hoarding and speculative trading of grains serves as a reminder of the importance of responsible practices in the agricultural sector.

It is hoped that this warning will help to curb these activities and ultimately contribute to ensuring food security for the people of Nigeria.