Boosting agriculture will hurt inflation

Joshua Elekwachi, Abuja.

An Enterprise Development Expert, Abraham  Kuti has said that boosting agriculture by improving on insecurity,so people can farm and produce food will help hurt the current ravaging inflation in the country.

According to report obtained from the National Bureau of statistics (NBS) by the Nigerian NewsDirect, it showed that the inflation rate in Nigeria jumped in December to its highest level in more than three years.

The Enterprise development expert whom described the current rate of inflation at 15.7% as pathetic explained that with the inflation normal prices of goods will go up and purchasing power will drop.

Accordingly, he lamented that the government is not helping matters saying there is no good plan especially with the plan to sell public assets to fund budget that has no good returns.

He agreed with the suggestion that government should cut cost of goveranance and make available foods for the populace as means of cushioning the effect of the inflation while efforts are made to revive the economy.

Nigeria has officially moved into recession as the GDP for the Q3 fell by 3.62% making it the second recession in the administration of President Muhammadu Buhari.

Expectedly, government has  sworn action to revive the economy, make liberal trade, create subsidies and regulate prices of goods in the market.