Harnessing agriculture can drive down inflation— Peter Obi

The presidential candidate of the Labour Party (LP), Peter Obi, has said that if the Nigerian government properly harnesses agriculture, it can address the economic challenges of inflation and the threat to food security confronting the nation.

The Presidential candidate of the Labour Party said this when he visited the headquarters of the International Institute of Tropical Agriculture (IITA) in Ibadan.

“If we invest in agriculture and fully explore our fertile lands, we will not only end hunger and eradicate poverty but also drive down inflation and earn huge amounts of foreign exchange through agricultural exports.

“Our mission remains to move Nigeria from consumption to production, as this will help us to achieve the new and productive Nigeria of our dreams.

Obi maintained that agriculture remains a very critical sector in Nigeria’s economy and should not be neglected. “Our obvious neglect of agriculture is the cause of hunger and food insecurity, resulting in the high food inflation rate we have today,” he said.

“Lack of investment in agriculture,” he argued, “has resulted in the high level of hunger and poverty in the country today. In the 2023 Global Hunger Index, Nigeria ranked 109th out of the 125 countries measured, showing a serious hunger level in the nation.

“Our food inflation rate is currently at 33%, signifying that more concerted efforts need to be made in moving our nation from consumption to production in the agricultural sector.”

Speaking further, Obi stated that aside from achieving food security, Nigeria could earn huge foreign exchange from agriculture.

“I have maintained consistently that Nigeria could earn more from agriculture than it presently earns from oil. I have also said that the biggest assets of our nation are the vast uncultivated lands in the North,” the presidential candidate states.

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