Pat Utomi urges FG to offer incentives to youth to Mitigate Inflation

Former presidential candidate Pat Utomi has emphasized that President Bola Tinubu must take intentional steps to lower food prices if he hopes to combat inflation in the country.

According to reports, Tinubu, in his New Year’s address, vowed to prioritize food production and achieve economic stability through policies aimed at reducing inflation and ensuring food security.

The President also expressed his administration’s commitment to cutting inflation from its current 34.6% to 15%.

In an interview with Punch, Utomi highlighted that Tinubu’s success depends on his administration’s ability to address insecurity, provide incentives for farmers, and implement robust agricultural policies to establish a stable and sustainable food production system.

He cautioned against relying on large-scale food imports as a solution, warning that it could exacerbate Nigeria’s foreign exchange challenges and harm local agricultural productivity.

Utomi further explained that imported food would remain expensive due to poor exchange rates, and subsidies on such imports would negatively impact the country’s capacity for sustainable food production.

“There is hunger, real hunger, in the land,” Utomi said. “One of the biggest contributors to inflation is food price inflation. It significantly affects how people feel and their ability to handle other challenges.”

He urged the government to introduce deliberate policies to reduce food costs by investing in agriculture, offering substantial incentives to attract young people to farming, and addressing insecurity urgently.

To tackle insecurity, Utomi proposed establishing special agricultural security forces, such as forest rangers, to safeguard farmlands and prevent conflicts between farmers and herders or attacks by bandits.

Additionally, he called on the government to support farmers in implementing irrigation systems to enable year-round farming.