Dr. Suleiman Lawal, a lecturer at Economics Department, Umaru Musa Yar’adua University, Katsina, has urged the Federal Government to provide farm inputs to farmers at subsidized rate.
Lawal, who gave the advice in an interview on Sunday in Kastina, said such subsidy would check food inflation in the country.
He said it would go a long way in enhancing agricultural productivity and guarantee food security in the country.
According to him, the measure will further assist the country in boosting exports; thereby, increase the revenue base of both the government and farmers.
“Providing farmers with farm inputs will boost subsistence farming leading to increase in food supply and decrease in the prices of food items.
“Some of the consequences of food inflation include increase in the cost of living, possible hunger and depreciation of the country’s currency,’’ he said.
The lecturer opined that the government might also introduce price reduction policy to ease hardships faced by the people.
He added that greater emphasis should be placed on streamlining operations and minimizing regional price disparities.
Lawal said that the World Bank had already forecast that the war between Russia and Ukraine could exacerbate inflation in Nigeria.
He added that the economic sanction enforced on Niger Republic as a result of the military coup could also lead to food inflation not only in Niger, but in other neighbouring countries like Nigeria.
