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    FG set to release additional 60,000MT of grains to stabilize food prices

    The federal government has authorized the release of additional 60,000 metric tonnes of food items in its bid to stabilize food prices, ensure availability and affordability.

    Minister of Finance and Coordinating Minister for the Economy, Wale Edun announced this development during the Public Wealth Management Conference held in Abuja by the Ministry of Finance and the Ministry of Finance Incorporated (MoFI).

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    Edun emphasized President Tinubu’s dedication to assisting the less fortunate in these difficult times.

    He stated that President Tinubu had “previously released strategic grain reserves and is currently releasing 42,000 metric tonnes of food grains, with plans for an additional 60,000 tonnes”.

    These measures, the minister said, are aimed at ensuring food availability and stabilizing prices, with the expectation that prices will eventually decrease. The priority is to ensure that food reaches the market and people’s tables, no matter the effort required.

    “President Tinubu has always said he will not leave the poor, the vulnerable the weaker in society at times like this. He has previously released strategic grain reserves, he’s currently releasing 42,000 metric tonnes of food grains and he has a plan of releasing another 60,000 tonnes of food grains.

    “This is in addition to measures to make sure that whatever is in the stores comes out at this important time and we expect food prices to stabilize and begin to fall in a reasonable period and in the meantime, everything that can be done to put food in the market, on the tables of people will be done no matter what it takes.”



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