The Abuja Chamber of Commerce and Industry has asked the federal government to urgently develop measures to stabilise food prices, enhance food security, and alleviate the economic burden on Nigerians.Obegolu raised concerns on the persistent rise in commodity prices, which is adversely affecting small-scale business owners and escalating poverty levels in the country.
“However, on-ground observations suggest that the true food inflation rate exceeds 50%, highlighting the severity of the situation and its dire impact on livelihoods.”Obegolu said failure to act promptly could lead to a state of malnutrition and further aggravate the nation’s socioeconomic challenges.
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