Hike in the prices of food has been attributed to bulk purchase of food commodities by government, at all levels, and wealthy individuals for distribution as COVID-19 palliatives.
The National Food Security Council revealed this after its meeting at the Presidential villa on Monday.
NFSC said it would make sure the cost of NPK fertilizer was reduced from N5,500 to N5,000 per bag.
President Buhari had, in April, ordered the reduction as part of measures to boost food production in the country.
NFSC Vice Chairman as well as Kebbi State governor, Atiku Bagudu, gave the explained this while briefing State House correspondents at the end of the meeting of the Council.
He revealed that the Federal Government had spent N31billion to support farmers as part of actions to forestall food crisis in the country.
Bagudu said: “In fact, one of the key initiatives as the very first intervention of the national food security council, was to recognize how to support people to resume economic activity following the disaster.
“That is why in 2018, N23 billion was spent to support farmers in 14 states as well as another N8 billion to support some states that were affected by conflict and the need for people to resume economic activity.’’
On the hike in foodstuff prices, Bagudu added: “The CACOVID was buying food items for the coronavirus pandemic response in bulk at a peak of the beginning of the season, at a time when demands are not high. So, it contributed to the high cost.
“The global lockdown also contributed because of lack of movement of food items. But now, harvests are coming in and it is good.
“Yes, there are some states that experienced huge draught but that has been overcome by the food coming from elsewhere.”
The Vice Chairman also said the President’s banning of fertilizer importation was in the overall interest of the country and would greatly help in securing the country food wise.