INFLATION: Experts Seek Extension Workers For Farmers—Some financial experts have urged the Federal Government to enhance small holder farmers with agric extension workers to boost food supply and check inflation.
The Genius Media understands that Nigeria’s inflation rate dropped for the eighth consecutive month in November to 15.40 per cent from 15.99 per cent recorded in October.
The prices of goods and services measured by the Consumer Price Index increased by 15.40 per cent (year-on-year) in November 2021.
The National Bureau of Statistics also said the composite food index rose by 17.21 per cent in November 2021 compared to 18.30 per cent in November 2020.
The Senior Manager, Nissi Agro Allide Services, Mr Nnamdi Ifekwe, said enhancing small holder farmers with agric extension workers was crucial for their growth.
“Having more extension workers to educate our farmers on recent farming innovations will change the narrative.
“Then we can begin to achieve food sufficiency and the food induced inflation will abate,” he said.
He noted that the Federal Government should expand its loan schemes to accommodate more farmers in the country.
“Allowing more farmers to access the Federal Government loan schemes will ensure they grow beyond subsistence levels.
“Operating above subsistence level is key to achieve food security in the country,” he said.
Also, the Chief Executive Officer, Ogu Investment, Mr Mosses Igbrude, has said cost of logistics was one of the factors triggering inflation in the country.
“The cost of logistics has risen arbitrarily as moving commodities across the country is too expensive.
“This is responsible for the cause of rise of commodities in the country,” he said.
He noted the apex bank should reorganise the Anchor Borrowers’ scheme for it to have serious impact on the economy.
He also suggested that the Federal Government should continue to endeavour to improve the insecurity situation.
“Ensuring that the security condition gets better will halt the rural urban migration presently in the country,” Igbrude said.
He said that many young people would return to the hinterland and be engaged meaningfully if security improves
