Ekiti State Government has attributed the NBS report which shows moderation in food prices to Governor Oyebanji’s huge investment in agriculture development.
According to a statement by the Chief Press Secretary to the Governor, Yinka Oyebode the high inflation rate recorded by the state for August 2025 inflation is powered by non-food categories such as housing, transport, electricity and other services.
“The Government of Ekiti State is pleased to note the National Bureau of Statistics (NBS) August 2025 Consumer Price Index (CPI) report which shows a moderation of food prices in the State.
The NBS, in the monthly release for August, said food prices, which is often the driver of state-level inflation, actually eased significantly during the period.
“According to the report, food index dropped by 6.8 percent month-on-month, while annual food inflation at 16.8 percent, is currently below the national average.
“The significant improvement, though still far from the target set by the Governor, Mr Biodun Oyebanji, is as a result of concerted efforts and the administration’s huge investment in agriculture development.
“The administration’s approach to agriculture is anchored on youth involvement as well as Government’s strategic partnership with the private sector.
“This has led to more youth involvement in agriculture with attendant food surplus and drop in 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.
“However, the Government also noted the NBS report which indicated that the State had the highest inflation rate for the month of August. According to the NBS release, the State recorded an all-item inflation rate of 28.2 percent year-on-year.
“The report indicated that inflation in Ekiti is powered by non-food categories such as housing, transport, electricity and other services.
“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.”
