A leading economist and Team Lead at Stears, Oluwole, has urged Nigeria's policymakers to take a structural, long-term approach to tackling inflation—starting with agriculture. She emphasized that improving food security is essential, and this means solving challenges like insecurity, poor storage, and weak logistics, especially for small businesses along the food supply chain.
Oluwole highlighted that food inflation is a major driver of Nigeria's overall inflation, and addressing it will require more than just monetary policy. She called for stronger fiscal efforts, protection of farms and farmers, and targeted support for SMEs engaged in agriculture, logistics, and food processing.
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She also stressed the need for states to leverage their unique agricultural potential to boost local food production and reduce pressure on the national supply chain. Supporting these efforts with data-driven decisions will help ensure smarter investments and policies, ultimately driving economic growth and job creation.
Recognizing the federal government's recent purchase of 2,000 tractors, Oluwole advised further collaboration with MDAs and private sector players to deepen support for small businesses and improve value addition in agriculture.
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