Nigerians are finally seeing some relief from the rising costs of essential food products. Recent market surveys indicate a notable decline in the prices of key staples such as rice, tomatoes, and garri, offering much-needed respite for struggling households across the nation. This positive trend can be attributed in part to the proactive measures taken by President Bola Tinubu’s administration, which has focused on enhancing food security and stabilizing market prices. As the government continues to implement policies aimed at improving agricultural production and reducing import dependency, there is hope that these efforts will further alleviate the financial burden on families and contribute to a more stable food supply in the country.
In later surprise, a 50kg bag of foreign rice has decreased from 110,000 Naira to 85,000 Naira. While local rice now sells for 95,000 Naira, down from 105,000 Naira. A big basket of fresh tomatoes has seen the most significant decline falling 70% from 120,000 Naira to 35,000 Naira.
Garr prices have also eased with the 4 litre panes container not selling for 2,500 Naira down from 3,500 Naira while a 60kg bag goes for 37,500 Naira. In Abuja, the Anamicha, a big silver pan now costs 2,500 Naira, a significant drop from 5,500 Naira just five months ago.
Other prices have also become more affordable with 1,000 Naira dying off to 10 pieces compared to just three or four a few months ago. Veronica, this is good news and I’ll definitely tell you from my own experience, you’re not a market goer.
Table
| Item | Previous Price (Naira) | Current Price (Naira) | Price Change (Naira) | Percentage Change |
|---|---|---|---|---|
| 50kg Bag of Foreign Rice | 110,000 | 85,000 | -25,000 | 22.73% decrease |
| Local Rice | 105,000 | 95,000 | -10,000 | 9.52% decrease |
| Big Basket of Fresh Tomatoes | 120,000 | 35,000 | -85,000 | 70.83% decrease |
| 4 Litre Pan of Garri | 3,500 | 2,500 | -1,000 | 28.57% decrease |
| 60kg Bag of Garri | 90,000 | 37,500 | -52,500 | 58.33% decrease |
| Big Silver Pan (Abuja) | 5,500 | 2,500 | -3,000 | 54.55% decrease |
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While the recent decline in food prices offers a glimmer of hope for many Nigerians, it is crucial for the government to intensify its efforts to ensure that this relief is sustained and extended across all essential services. Rising costs of petrol and other basic necessities continue to burden households, exacerbating the struggles of everyday citizens. The Nigerian government must prioritize effective policies and strategies that not only address food inflation but also tackle the broader economic challenges facing the nation. By doing so, they can provide enduring support to families and foster a more stable, prosperous environment for all Nigerians.
