Entrepreneurng.com
Tuesday, April 28, 2026
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us
No Result
View All Result
Entrepreneurng.com
No Result
View All Result
Home Uncategorized

Naira devaluation fuelling massive regional export – Govs

by Ikenna Ngere
March 11, 2024
in Uncategorized
0
Money Supply
496
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The Nigeria Governors Forum has said governors are implementing diverse strategies and measures aimed at resolving the ongoing economic challenges and food crises in their respective domains.

The NGF also said the devaluation of the naira was fuelling food export to West African countries.

The NGF, in a statement released by its Acting Head of Media, Halimah Salihu Ahmed, on Sunday, stated these while highlighting efforts by the governors to alleviate the pain and suffering of citizens nationwide.

Nigerians are currently grappling with economic hardship resulting from skyrocketing prices of basic household commodities.

In a bid to alleviate the hardship, in February, President Bola Tinubu held a meeting with state governors at the Presidential Villa in Abuja. During the meeting, the governors were urged to focus their efforts on resolving the economic and food crisis.

According to the NGF report, Kwara State Governor and NGF Chairman, AbdulRahman AbdulRazaq, along with Governors Agbu Kefas of Taraba State, Lucky Aiyedatiwa of Ondo State, and Ahmed Ododo of Kogi State, are advocating enhanced crop production through collaboration with the Federal Ministry of Agriculture to tackle food shortages.

Abdulrazaq, in the statement, explained that the Anchor Borrowers Programme that was previously implemented by the Central Bank of Nigeria did not achieve much.

He said, “We could not achieve much with the CBN Anchor Borrowers programme; it was very challenging. The issue of food security is a one-stop-shop and we need to concentrate on what we are doing. We need to concentrate on what we are doing for the dry season farming.

It stated “The minister has come up with a programme on cassava, rice, and maize and we want to engage in that programme and urgently make sure we improve on our yield and deliver to the Nigerian population.

“We want to get to a stage where we export our food. What we have now is that, because of the devaluation of our naira, Nigeria’s food is being exported to West Africa and is the cheapest in the region today.

“The governors have realised that we have a new Ministry of Agriculture, because over the last four years, before this administration, the engagement was not too productive.”

According to the statement, there are plans in Akwa Ibom for a state agency to procure and sell food items at lower prices.

Similarly, in Kano and Yobe authorities cracked down on food hoarding, banning bulk purchases and exports.

According to the report, Governors Mohammed Umar Bago of Niger State and Peter Mbah of Enugu State are working to eliminate hunger and poverty by investing in agriculture and rural economic development.

“In the same vein, in  Kano State, authorities raided warehouses where traders are suspected of hoarding food supplies.

 “In Yobe State government banned bulk purchases of grain from local markets to stop hoarding and exports across Nigeria’s borders, saying it was to stem the tide of food scarcity and high cost of grains.

“In Niger State, Governor Mohammed Umar Bago announced a ban on the mass purchase of foodstuffs from local markets. He ordered security forces to confiscate trucks carrying products in bulk and share the food with the people.

“In Enugu State, Governor Peter Mbah said his administration would eradicate hunger and poverty in the state and unlock the rural economy through investment in agriculture and agro-industrialisation.

“In Zamfara State, last week, Governor Dauda Lawal hosted the Sweden Ambassador, Annika Hahn-Englund, in partnership on how to grow the state economy and address the current hardships.”

SOURCE: PUNCHNG

Tags: Naira Devaluationregional export
Share198Tweet124
Ikenna Ngere

Ikenna Ngere

  • Trending
  • Comments
  • Latest
Prince Faisal bin Salman Al Saud

Saudi Arabia: Top 10 Richest Princes and Princesses of the Royal Family

January 4, 2025
2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

January 4, 2025
Applications Open: Nehemiah Davis' Greatness Grant 2025 (Up to $2,500 Available)

Applications Open: Nehemiah Davis’ Greatness Grant 2025 (Up to $2,500 Available)

February 23, 2025
Sam Bankman-Fried

FTX founder Sam Bankman-Fried has been arrested in the Bahamas

19
THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

3
RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

2
Solar Power Sparks Economic Revival in Nigeria

Solar Power Sparks Economic Revival in Nigeria

April 17, 2026
Kitchen Waste Turns to Garden Gold

Kitchen Waste Turns to Garden Gold

April 17, 2026

Kasyno online jakie metody patnoci s dostpne.1550 (2)

April 15, 2026
Entrepreneurng.com

Copyright © 2025

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us

Copyright © 2025