Lanretoye:
hope it's not a sin to pray for buhari to remain on vacation till this is accomplished...BTW, how can ppl who don't know the prices of food stuffs review it.
my own task force has already proffered the solution and it's simply to open borders for free importation of food items.
you don't cut source before getting enough supply,we can only lock our borders when we are self dependent if not sufficient. there is difference between building Rome and building Nigeria...we cant continue to practice theoretical economics where policies only work on papers and imagination .policies of the government are not working,farmers don't get the allocated subsidies despite huge amount budgeted annually.
is 10years not long enough for an agricultural long run?,the lagos-kebbi rice I have not even seen a bag before so if I depend on that rice to feed,what will be my case.even the ppl that got the first batch would have finished it before the second batch rolls out.
I still maintain that until working machineries are in place,we can't block importation of food items...clothes ,cars etc can be banned but food is a no no.hunger is not good for the land.#evenNigerianfarmersarehungry.

Joel3:
it's not rocket science for malaria drug that use to be N550 - N750 now sell for N2500 - N3000.and all other drugs. the bad side is that there are people who live on drugs daily with one manageable condition to the other they are really suffering. anytime I go to hospital people beg me money for drugs. it's a serious situation. it all point to the dollars.

people who are into trade and transport are forced to increase their price to meet up with reality. its only salary and service man earners that are feeling the hit.

the current APC supporters are people who still live and eat in their fathers house. many of them still don't know the reality on ground.

doctokwus:
Even if this doesnt work,@least this is a sign of a man at d helm that understands how bad things are and d need for d govt to stem d tide.
Prices of items(food and non food) are going haywire and d cattle rearer we all thought we had as a president,was just a statue,weighed down by dementia,dullness and bigotry.
I av maintained that d cattle rearer shud step aside for Osinbajo because he cannot do worse than him.

Moreoffaith:
Idiagbon

cstr55:
I would like to see if buhari would use whips like he did in 1984.
De ja vu.

bettercreature:
It's called Price Ceilings economy

chairmanchairmam:


will they be forced to sell below their cost price, if so what do they call that in economics?

Billyonaire:
Osibanjo has also lost his God-given mind.

Mr. Professor, it is called Cost of Transportation. It has to do with price of petrol. And it has to do with How Much a poor farmer needs in return so she can cook a pot of soup and eat too. A farmer will not sell his/her produce for 10 naira when 10 naira can not buy kerosene to cook her soup.

Are these people finally brain dead ?


The prices of goods was stable, then one certain Cow herder increased price of petrol, gamble with fx differentials, fleece people accounts and the panic created made the billionaires to move their funds, changed them to dollars and launder them to safe heavens. NoW what we have here is a mess.

Your Buhari went out there and say Nigerians are all corrupt, now that investors are pulling out and businesses firing, you turn around and keep your face like person wey no sleep for 4 weeks. May be if these our Presidency people start smoking sk, they will reason better.

What we expect from this Government is 100% Resignation. No more! Nigerians need some "respek" to their names.

eazyjakes:
I don't understand....is it a presidential task force dat will impact the cost of food items or the right governmental policies to create an enabling environment for various investors to thrive?.....dis govt is jst sth else!

EkoErrands:


Y'all want food prices to come down? Really? With fuel at N145? Really? The truth about fuel price hike is that it takes a very long time to cause prices in food items to rise... And when they eventually rise months later, no fact finder will remember that someone doubled the price of petrol overnight. Mr Acting presido... Your dogs are on a wild goose chase... For 7 days that is...

*Modified*
Wait o! I read somewhere Senate wants to add N5 to fuel for road construction... Which type of road exactly? Is it the original road like mobolaji bank Anthony that was properly done or the type on Allen avenue that is resurfaced every 2 years?

Which spec of road are they planning to do with the N5...
Thank God my mama is not a trader... this gov will soon start flogging market women to lower prices... WAS (Watch And See)

OYAY:
We are such a pessimist in this country,the personalities in that committee should explained it all that it is going to be an holistic approach in the sense that those that are germane to policy formulation are part of the committee hence deciphering the cause and solution will be easy;it would have been a different ball game if the members were security agents or a third party. I hope they will come up with something tangible that will touch all sectors that culminated to the situation we are.

I think the president should give more opportunity to the VP to act,we can see semblance of proactiveness in governance in the last two weeks.

AZeD1:
The only way to force food prices down, the to produce more.
Simple case of demand and supply.

wristbangle:
To be honest, if this man is allowed to rule nigeria till 2019, Nigerians will be relieved from the current economic nightmare but there are some evil cabals who wants to frustrate him due to religion and tribal difference.

mapet:


Apart from your ridiculous hate-filled and baseless submissions, you have commented unintelligently. In fact you seemly dabble into an area you have no clue, despite the facts staring you in the face. The pointers are there in the report

1. What Osinbajo's directive simply means is for the task force to look at the value chain and address deficits that can either reduce the cost-to-market or increase the volume of goods in the market. For instance a farmer may not need to travel more than 5km to sell his goods. There can be an "aggregator" (govt. can intervene here till a private company with sufficient funds comes up) who buys all the farm produce from the farmer even at a higher price than what the "sharks" of middle men offer.
2. There is still no organised arrangements for storage. Less than 50% of the tomatoes planted in Nigeria make it to markets. Many of them are spoilt before the farmers can sell them. Imagine a scenario if there is already a bulk buy with collecting points close to the farms. The farmers needs not bother about storage. He only needs to inform the bulk-buyer/aggregator of his harvest date and they collect everthing on the said date.
3. Transportation problems is why govt may need to invest in more cargo coaches and in-land cargo ships to bring good down south. Private sector are yet to see the incentives so they are not doing it at the moment. Government needs to stimulate that. If for example cows can be transported to market in 15-18hrs rather than 4-5days (not to talk of the heards men probably average 3-6months), imagine what is shaved off transportation costs......

These are what Osinbajo's task-force are directed to review......

wristbangle:


Desperate situation calls for desperate measures.

The law of demand and supply hasn't been effective due to greedy people except for few commodities (perishable goods like tomatoes, et.al ) whereby sellers have no choice than to force down the price to avoid wastage but others like provisions and canned foods are on the increase which I believe there must be assurance dept to checkmate the gluttony and barbaric thirst of middleman/retailers.

mapet:


Yes food prices can come down with N145 fuel price. The fuel price is a function of the international market price and we're no longer subsidising it. Secondly, if we can increase the volume of food stuffs that actually get to market, simple economics of scale says prices will come down. This is what govt will probably look into. My tots are these

1. Can Govt build a mega storage - Cold rooms and collect all uncommitted poultry products from our local farmers. They have through CBN and BOA invested N23b in them anyways, and this will help enhance their investment. If farmers see a line of sight to off-take, they can increase their production capacity

2. Can the Silos project be accelerated, so that we target a period of doubling planting and harvesting. While we increase volumes of food to market, we also increase food reserves

3. Can govt invest in specialized haulage vehicles. These are giant trailers, almost twice the size of the a typical trailer. These haulage trucks will have but only one business - move goods to market around the year. Govt will then commit to bear this cost for a stipulated number of years. This cost will also be offset from the margins they saved by redesigning the process and taking out some unneeded middle men. If a major cost head (Transportation) is taken off, and volume + time to market is increased, food prices will definitely come down

4. Can Govt stimulate an upsurge of home-based end-producers and processors? For example, govt can buy lots of food processing machines and sell to interested citizens on a rent-to-own schemes. These citizens can use these machines in their homes. For example, Cassava processors to garri, bagging machines for rice, beans, millets etc. Imagine if we have 1 million people per state to do this on a part-time basis, how this will impact the market.

My take is, if we truly re-look the process and make some creative changes, prices will go down

mapet:


Apart from your ridiculous hate-filled and baseless submissions, you have commented unintelligently. In fact you seemly dabble into an area you have no clue, despite the facts staring you in the face. The pointers are there in the report

1. What Osinbajo's directive simply means is for the task force to look at the value chain and address deficits that can either reduce the cost-to-market or increase the volume of goods in the market. For instance a farmer may not need to travel more than 5km to sell his goods. There can be an "aggregator" (govt. can intervene here till a private company with sufficient funds comes up) who buys all the farm produce from the farmer even at a higher price than what the "sharks" of middle men offer.
2. There is still no organised arrangements for storage. Less than 50% of the tomatoes planted in Nigeria make it to markets. Many of them are spoilt before the farmers can sell them. Imagine a scenario if there is already a bulk buy with collecting points close to the farms. The farmers needs not bother about storage. He only needs to inform the bulk-buyer/aggregator of his harvest date and they collect everthing on the said date.
3. Transportation problems is why govt may need to invest in more cargo coaches and in-land cargo ships to bring good down south. Private sector are yet to see the incentives so they are not doing it at the moment. Government needs to stimulate that. If for example cows can be transported to market in 15-18hrs rather than 4-5days (not to talk of the heards men probably average 3-6months), imagine what is shaved off transportation costs......

These are what Osinbajo's task-force are directed to review......

Moreoffaith:
Idiagbon

vatiqan:
The fear of 2baba.....

felicitywe:
Osibanjo looks mischievous.When u see socalled Men of God turned Politician talking becareful.They r agents of d devil.They r politicians frm d onset but hid in d church to achieve their personal ambitions.Has he nt been meeting wt his economic team?what wnt wrong wt dem?If he wnts progress let him pick 6gvernors frm d 6 geopolitical zone who v good track record on economy&finance&watch out 4 change in d economy.

Day11:
Bubu...Please step down and look to your health and stop doing agidi,...You are OLD. You need to rest.... let the anointed man of God rule this country.

Dis great step alone will ease the hardship on everyone.

Imagine,1 pack of Hungry man noodles that used to be 70 is now 200 naira.

Itzwell

felicitywe:
U r even d clueless&ethnic filled person.Ur analysis lacks depth only protecting Osibanjo's weakness.High inflation,forex issues&petrol increase r d problems but u r busy campaigning about Osibanjo.see hw little u r in mind.

High inflation,forex issues&petrol

EkoErrands:


My brother please don't commit murder... Let's give Nigeria just 1 small task of providing electricity for all her citizens... In 30 years time o! Not immediately. If she can, then we can start considering all those white elephant suggestions your took your time to paint up there.