The Minister of Finance, Budget and National Planning, Zainab Ahmed says the Federal Government is working on strategic plans to address inflation and ensure decongestion of ports in the country.
Zainab said this when she fielded questions from lawmakers at the presentation of the 2022 budget performance before the House of Representatives Committee on Finance in Abuja.
The minister explained that inflation which has risen to 23 per cent, was worrisome, saying that the inflation in Nigeria has a number of components.
Zainab noted that one of the components was imported inflation, which means that occurrences in developed countries also affected Nigeria.
According to her, the Russia-Ukraine war has an impact on Nigeria in the instance that some of the inputs for our food production are affected.
Zainab also said that the decision of the U.S Central Banks and Europe Central Bank also effected Nigeria because the country depended on imported goods from the countries.
