Vice-President Kashim Shettima has assured Nigerians that food prices will fall in the coming weeks, saying the Federal Government is preparing measures to tackle agricultural challenges amid persistent pressure on household budgets.
Shettima gave the assurance on Monday at a political mobilisation forum, “Together Till 2027: An Evening with Original City Boy”, organised by the City Boy Movement and the Relax-Tinubu-Is-Fixing-Nigeria Movement at the Presidential Villa in Abuja.
He defended President Bola Tinubu’s economic reforms, arguing that the measures had prevented a more severe economic crisis and were beginning to produce results.
The Vice-President cited economic growth and rising foreign reserves as signs of improvement, saying the economy had grown by 4.43 per cent in the second quarter of 2026 and that reserves were approaching $60bn.
“If the President had not taken those far-reaching decisions, our economy would have collapsed,” he said, insisting that Tinubu deserved commendation for the reforms.
Shettima acknowledged that Nigerians had endured difficult economic conditions but maintained that the situation could have been worse without the administration’s policies.
He said the President would introduce responses to challenges affecting agriculture in the coming weeks, expressing confidence that the measures would bring down food prices.
"Your Excellency, distinguished ladies and gentlemen, the President has to be commended, not demonised.
"Yes, Nigerians have gone through some tough times, but it could have been worse.
"Be reassured that in the coming weeks, the President will come up with robust responses to agricultural challenges, and prices of foodstuff will certainly come down," he said.
The assurance comes amid continued pressure from food costs. Figures from the National Bureau of Statistics cited in the report put food inflation at 19.59 per cent in September 2026, although headline inflation fell to 14.63 per cent from 15.39 per cent in August.
The Vice-President also pointed to infrastructure investments and the Nigerian Education Loan Fund as part of the administration’s efforts to improve economic prospects and expand opportunities for young people.
He urged Nigerian youths to defend the government’s policies and communicate its achievements to citizens, as the ruling All Progressives Congress prepares for the 2027 presidential election.
The APC is scheduled to launch its presidential campaign in Kaduna on October 24, ahead of the election slated for January 16, 2027.
Shettima’s remarks followed his recent criticism of opposition figures, including former Vice-President Atiku Abubakar and former Anambra State Governor Peter Obi, over their economic proposals.
Despite his optimism, the Central Bank of Nigeria’s data put the country’s external reserves at $55.07bn as of October 9, below the nearly $60bn figure cited by Shettima.
Discussion0