The Minister of Finance, Mrs. Kemi Adeosun, has disclosed why the prices of food items are hitting the rooftops.
According to her, the past administration defaulted in paying suppliers of fertilisers, who consequently failed to supply the items to farmers in the last farming season.
The development, she said, made farmers not to apply fertilisers on their crops leading to low yield and the attendant scarcity of food items, which pushed prices up.
She, however, disclosed that the current administration had already addressed the situation by paying the fertiliser suppliers.
She added that farmers were availed of the product during this year’s planting season, which would culminate in better yield and lower food prices.
Adeosun said in order to preserve produce from this year’s harvest, the government was embarking on the construction of silos to avoid loss of harvest.