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From Charity Nwakaudu, Abuja
An All Progressives Congress (APC) chieftain, Chief Uche Nwosu, has commended President Bola Ahmed Tinubu for recent reductions in food prices, describing the development as a major relief for Nigerians ahead of the Christmas season.
Chief Nwosu made the remarks during an interview with journalists in Abuja, where he acknowledged the economic hardship Nigerians have faced due to rising food costs but noted a significant improvement in recent weeks.
According to him, the price of a bag of rice, which previously sold for between ₦95,000 and ₦100,000, has dropped to between ₦45,000 and ₦55,000 in many markets across the country.
“That is a big relief for many Nigerians. Prices of other food items like beans, groundnuts, and millet have also come down,” he said.
He attributed the price reduction to government interventions in the agricultural sector and called on President Tinubu to invest even more resources in farming. Chief Nwosu also stressed the importance of improved security, noting that farmers must feel safe to return to their farms for sustainable food production.
“If banditry is crushed and agriculture is fully supported, Nigeria can become the food basket of Africa,” he said.
Speaking on developments in the petroleum sector, particularly recent price adjustments by the Dangote Refinery, Chief Nwosu praised the Federal Government’s commitment to promoting domestic refining.
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He recalled that past administrations relied heavily on exporting crude oil for refining abroad, only to import refined petroleum products at high costs.
“It is better for Nigeria to refine its oil locally. Local refining will ultimately lead to cheaper fuel and economic stability,” he said.
Chief Nwosu further applauded President Tinubu’s reforms in the areas of security, agriculture, and the oil sector, urging the government to sustain efforts aimed at consolidating the gains already recorded.
However, he appealed to the President to critically review the ongoing tax law reforms, particularly as they affect small businesses and the general population.
While acknowledging the need for economic reforms, he stressed that small and medium-scale enterprises (SMEs) are still struggling to survive in the current economic climate and should be protected.
“Small businesses are still struggling to survive. Tax reforms should protect them, while bigger companies with stronger capacity should bear a greater share of the tax burden,” he said.
Chief Nwosu added that a balanced and fair tax system would promote business growth, create jobs, and ease economic hardship for ordinary Nigerians.
