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FG Explains High Cost Of Food Items

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The Federal Government says despite the revolution witnessed in the agricultural sector, the cost of food items is still high because of infrastructural deficit and export demands.
The Minister of Information and Culture, Alhaji Lai Mohammed, said this on Tuesday during live Current Affairs programme “Focus Nigeria” on AIT.
“Despite the fact that the production of staples like rice, grains, yam has increased with the agriculture revolution of the government, food items are still on the high side.
“There are many reasons why the prices are still up there but principally, I think it is infrastructural deficit.
“By this, I mean what it takes to bring the produce from the farms to the farm gates and from the farm gates to the city centres and this may not improve until various road and rail projects are completed.
“The good news, however, is that from October this year, the General Electric, which has the concession for the 3,500 narrow gauge rail routes will commence work.
“The Lagos to Kano standard gauge rail project and the Lagos to Calabar rail lines which will criss cross all the South Eastern States are priority projects of the government.
“That will help in the transportation of goods and services including agricultural produce at a far cheaper fare and that will percolate to the common man,” he said.
The minister said that the government would leave no stone unturned to ensure that the Lagos to Ibadan, Kano to Maiduguri and other critical roads across the country were completed.
Mohammed also explained that “there is so much demand on our grains and cereals from other parts of Africa.
“You cannot stop the farmers especially with the ECOWAS Protocols that allows for free movement of goods and services.
“There is also a lot of demand for our grains from other parts of the world and as a matter of fact, we got over N30 billion from agricultural export in the second quarter of this year.
“I believe that with the economy picking up and the various infrastructural development coming up, Nigeria will very soon start to feel some relief.
“Also the Presidential initiative to employ 10,000 people from each state in the agricultural sector will bring succour and a lot of relief,” he said.
Speaking on his hopes and fears for the country, the minister said that, 57 years after independence, he was very confident and optimistic that Nigeria will be great.
“Living together for 57 years as an independent country with all the ups and downs and challenges and we are going stronger in all ramification.
“The present administration is getting its priorities right and focussed on the economy, good governance, security and improving the quality of life of Nigerians,” he said.
The minister reiterated the position of President Muhammadu Buhari that with Nigeria exiting recession, the administration would not rest on its oars until the impact is felt by all Nigerians.
He said it was on record that since January, the country had recorded monthly steady reduction on headline inflation.
“Capital inflow has improved from 902 million dollar in first quarter to 1.792 billion dollars in second quarter.
“We have been able to add additional 8 billion dollars to our foreign reserve which was 23.7 billion dollars last year, but now 33.5 billion dollars this year.
“Our Balance of Trade has increased, farmers today get fertiliser at N5,500 as opposed to N13,000 before and we were able to deliver the fertilisers to farmers before the planting season.
“These are incremental gains and if we remain focussed on our reforms, all these will improve,” he said.
For those criticising the president on his Independence Address to the nation, the minister said that Buhari addressed issues that were germaine to national development.
He said Buhari’s speech touched on national security, economy, corruption, unity and development as well as the achievements recorded by the administration despite constraints.

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Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

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The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.
The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.
Ogan stated  that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.
He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.
According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.
Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.
He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.
 NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.
He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.
Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.
He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.
Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.
He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.
According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.
To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.
King Onunwor
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NPA Targets N1.489tn Revenue In 2026

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The Management  of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.
NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.
 The Managing Director NPA, Dr Abubakar Dantsoho, stated this  during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.
Dantsoho said  the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.
According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and
N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).
The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”
Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.
“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.
“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.
“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.
On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).
“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.
Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.
“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.
Chinedu Wosu
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NPF Disburses ?21.68m  To Fallen Heros’ Families …Reinforce Welfare Commitment 

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Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.
The gesture formed a major highlight of the activities marking  the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.
The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.
He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.
Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.
The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.
He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.
Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.
They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.
The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.
The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.
King Onunwor
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