Food inflation hits 40% despite FG $3.3bn agric loan

Despite securing multilateral loans amounting to $3.334bn (N5.178tn) and attracting over $4.3bn investments to boost food production, the cost of essential staple food items skyrocketed by 60.88 per cent under the leadership of President Bola Tinubu, The PUNCH reports. When Tinubu assumed office in May 2023, food inflation was 24.82 per cent. It jumped to