Dare Babalola
The Ekiti State Government has welcomed the National Bureau of Statistics (NBS) August 2025 Consumer Price Index (CPI) report, which shows a moderation of food prices in the state.
According to the report, the food index dropped by 6.8% month-on-month, and annual food inflation stands at 16.8%, below the national average.
The government, in a statement signed on Wednesday by Olayinka Oyebode, the governor’s Chief Press Secretary attributed this improvement to its agriculture development initiatives.
It reads partly, “The administration’s approach to agriculture is anchored on youth involvement as well as the Government’s strategic partnership with the private sector. This has led to more youth involvement in agriculture with attendant food surplus and a drop in the cost of food items. In addition, the price moderation reflects the impact of Ounje Ekiti, an initiative of the Ilu Eye Trading Company which now undertakes strategic intervention in boosting food supply.”
The government noted that the significant improvement is still far from the target set by Governor Biodun Oyebanji.
The government also noted the NBS report which indicated that the State had the highest inflation rate for August.
The report indicated that inflation in Ekiti is powered by non-food categories such as housing, transport, electricity and other services.
It continued, “The state government expects that interventions like its ease of doing business reforms will eventually bring down housing costs; investment in our road network will reflect in lower transportation costs; and finally, the investment in community electrification will also moderate power costs.
“In addition, the Government will reinforce its engagement with both private and public institutions and continue to adopt a data-driven approach to improving the lives of Ekiti people.”
