This palliatives crisis reinforces the need for Nigeria to mass-produce the following food items at affordable cost

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This palliatives crisis reinforces the need for Nigeria to mass-produce the following food items at affordable cost

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Rice, Garri, Noodles, Cooking oil, Yam, Bread, Eggs, Tea, Bottled water, Powdered milk

If the minimum wage is N30,000 per month, basically, we need to come up with a formula whereby about 5kg of all these items can be purchased at a quarter of that.

For Nigeria to be at ease with herself, a man who is the sole breadwinner of a family of four should be able to feed his wife and two kids on all these items for a month at no more than N7,500.

It is either we find a way to reduce the prices or we increase the minimum wage so feeding costs no more than a quarter of take-home pay.

How we step up mass production of food items is a challenge we need to face as a people.

How many Nigerian food companies can churn out 1m kg bags of rice a month? Mass production is what brings prices down and until Nigeria gets around this problem, we will continue to be inflation-plagued.

Across the board, our inability to mass-produce goods is our biggest failing as a people.

We have great tailors for instance but they sew suits in ones and twos, whereas a Hugo Boss factory will churn out 5,000 suits a day.

This is not really a government matter as everywhere else in the world, it is the private sector that has pioneered mass production.

I want to see private capital injected into the Nigerian economy to churn out these goods in their thousands.

Ayo Akinfe, born in Salford, Manchester, is a London-based journalist who has worked as a magazine and newspaper editor for the last 20 years.

Ayo attended Federal Government College Kaduna and obtained his first degree in history from the University of Ibadan.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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