Economic Crisis: Lagos working to regulate prices of food, says Commissioner  

The Lagos State Commissioner of Agriculture, Miss Abisola Olusanya, has said on Wednesday that the administration is working to enforce regulations on the price of food items in the State. 

Olusanya said this during an interview with the News Agency of Nigeria (NAN) at the event of the International Day of Forests held at the Lekki Conservation Centre in Lagos. 

The event, titled “Forest and Innovation: New Solutions for a Better World,” was a collaborative effort between the Lagos State Ministry of Agriculture and the Nigerian Conservation Foundation. 

According to her, the real issue is not the scarcity of food, but in the decreased disposable income among individuals. 

She added that the Lagos State government was working assiduously on it, calling on other states to do the same. 

The price of food in Nigeria has incessantly increased since the removal of subsidy and the naira devaluation reforms implemented by President Bola Tinubu, leading to an inflation rate of 31.70% as of February 2024.  

In addition, according to NBS, food inflation has risen to 37.92% on the back of higher average prices of items like bread and cereals, potatoes, yams and other tubers, fish, coffee, tea, and cocoa.