Hon. Olatunbosun Oyintiloye, a Cheiftain of the All Progressives Congress (APC) in Osun, has said that the hike in food prices was becoming worrisome and unbearable for the masses in the country.
Oyintiloye, a member of the defunct APC Presidential Campaign Council (PCC), said this while speaking with newsmen on Sunday in Osogbo.
The APC Cheiftain said that the hike in food prices had increased significantly, making it difficult for the masses to afford good meals.
He said there was an urgent need for the governments at all levels to come to the rescue of the masses by providing solutions to the challenge.
Oyintiloye said that cost of basic foodstuffs such as rice, beans, garri, semovita, yam flour, among others, were getting out of the reach of the masses, making them to eat whatever is available.
According to him, the rise in food prices is mostly caused by insecurity, high cost of transportation of the products, climate change, and the instability of the exchange rate of naira.
Oyintiloye, a former lawmaker, added that the astronomical rise in the food prices had battered the purchasing power of citizens, leading to uncertainty, an increase in poverty, and a high cost of living.
He said that with food as a primary resource for human survival, the government at every level should undertake tangible programmes to defeat hunger in the land.
According to him, a recent survey conducted by the National Bureau of Statistics (NBS) also confirmed that food prices have risen by over 100 per cent.
Oyintiloye said that the survey, which was the 2023/24 General Household Survey-Panel, commonly called (GHS-Panel), launched on Nov. 25, in Abuja, revealed that 65.8 per cent of the households were unable to eat healthy, nutritious, or preferred foods because of low income.
The APC Cheiftain said that while President Bola Tinubu-led administration was doing everything possible to bring down the food prices, many Nigerians were still struggling to eat three square meals.
Oyintiloye said that despite the food waiver policy being implemented by the federal government and the Central Bank’s intervention to curb inflation through the monetary policy, the prices of food were still on a very high side
“The exchange rate fluctuations further exacerbate this issue, particularly affecting the prices of imported food items
“The situation on the prices of food is becoming worrisome and extremely unbearable for the masses.
“Many households can no longer afford nutrition meals, while many are begging for survival. This is pathetic and no longer bearable for the masses. I urge Governors and the Federal government to intensify efforts and to stop further increase in the cost of food items. The situation may worsen, if factors leading to the increase are left unattended to, “he said.
Oyintiloye noted that the hike in food prices could worsen if immediate action was not taken to address the underlying factors driving food costs.
He urged the Federal Competition and Consumer Protection Commission(FCCPC) to continue to uphold their mandate by protecting and promoting the interest and welfare of the consumers by reviewing economic activities to enhance quality product at competitive prices.
As the festive period was approaching, he also urged governments at all levels to set up markets where food could be bought at a subsidised rate by the citizens as a temporary measure.
“Federal Government and States should set up food markets for people to buy basic food items at subsidized rate to cushion the challenge, at least for this festive season,” he concluded.
