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Business News of Wednesday, 3 March 2021

Source: channelstv.com

Lagos Govt advises residents not to panic over rise in food prices

The photo used to illustrate the story via Channels TV The photo used to illustrate the story via Channels TV

The Lagos State government has asked residents not to panic due to the increase in the prices of food items.

Lagos State Commissioner for Information, Gbenga Omotoso in a series of tweets on Tuesday assured Lagos residents that food security is guaranteed, despite the crisis.

He added that the state Governor Babajide Sanwo-Olu is “on top of it.”

“Lagosians have been advised not to panic following reports that trucks conveying food from the North are stuck on the way.

“The government is aware of the situation and Governor Babajide Sanwo-Olu is on top of it.  He has initiated steps to ensure the matter is resolved by the weekend,” he said.

Omotoso said the spike in food prices is a result of the clash between traders in Shasha market, Ibadan.

“Food and cattle merchants from the North have withheld supplies, an action that has sparked rising prices.

“Lagos consumes at least 50% of agricultural products in Nigeria,” he added.





On the return of Lekki Concession Company (LCC) to the Lekki Toll Gate, the Commissioner said that contrary to the misconception in some circles, the facility will not resume tolling soon, considering its destruction during the #ENDSARS riots.

He said repairs would leverage technology for a better travel experience to eliminate time wastage.

– Food Blockage –Prices of food items have increased in major cities including Lagos and Ibadan following the strike embarked upon by cattle and foodstuff dealers under the aegis of the Amalgamated Union of Foodstuff and Cattle Dealers of Nigeria (AUFCDN).

The union is demanding the protection of its members and payment of about N475 billion compensation for lives and property lost in the wake of the crises recorded across Nigeria in recent months.

The dealers are also demanding the removal of roadblocks, which they said is responsible for the extortion of their members by security operatives.