President Bola Tinubu has ruled out implementing price controls to address rising food prices in Nigeria. Speaking during a presidential media chat on Monday, Tinubu stated his belief in allowing market forces of demand and supply to regulate prices naturally. “I don’t believe in price control. I’m sorry. What we have to do is to keep supplying the market,” he said.
In a separate development, Tinubu approved ₦95 billion for the rehabilitation of over 16 dams in Kano State to enhance irrigation farming and agricultural productivity. The funds will also support constructing the Eastern Bypass Road to improve connectivity between Kano city and the southern region.
Musa Illiyasu Kwankwaso, the Executive Director of Finance at the Hadejia River Basin Development Authority, confirmed this initiative. He highlighted that the rehabilitation efforts, including work on key facilities like the Challawa Gorge and Tiga Dams, aim to boost irrigation and maximize the agricultural potential of Kano State.