Tuesday, Dec 7th 2021 3:41 AM

Market Digest Nigeria


Magashi, Defense minister, blames insecurity for rise in food cost

Defence Minister, Bashir Magashi on Monday said the rising cost of food prices is due to the prevalence of insecurity in the country

Major General Bashir Magashi

Magashi, who spoke to newsmen at the opening of a retreat for defence advisers/attaches organised by the Defence Intelligence Agency (DIA) in Abuja, said security agencies must explore all avenues within their respective systems to come up with innovative ways of confronting the challenges facing Nigeria.

He also stated that attacks by Boko Haram terrorists and Islamic State in West Africa Province (ISWAP) in the North-East, banditry, herder/militia in the North-West and North-Central have continued to pose serious security threats to Nigeria.

“The threats currently facing Nigeria and understanding their socio-geographic context is pivotal for adapting appropriate and lasting counter-measures.

”Regrettably, the prevalence of these threats has continued to endanger not only national security and economic growth, but also food security.

”In particular, food security has been adversely affected with the attendant rise in the prices of foodstuff across the country which portends a new dimension of threat.

”This makes it imperative for the various security agencies in the country to continue to collaborate to tackle this menace in order to create an enabling atmosphere for economic activities to thrive and to attract foreign direct investment,” he added.

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