Consumers Rejoice, Traders Lament as Prices of Foodstuffs Crash in Northern States
- Prices of foodstuffs have reportedly crashed in Benue, Borno, Adamawa, and Yola, to the joy of consumers but the displeasure of traders
- The decline in prices is attributed to excess supplies from farms, importers, and wholesale traders that had allegedly hoarded for months
- Nigeria’s headline inflation rate dropped below 20% in October, while prices of staple food also declined in many parts of the country
Prices of foodstuffs are crashing in some Northern states to the pleasure of consumers, according to reports by the News Agency of Nigeria.
Northern states where prices of staple foods have significantly dropped in the last week include: Adamawa, Benue, Borno, and Yobe.
NAN reported that its market surveys in selected cities in these states last week showed a significant drop in the prices of maize, rice, beans, millet, spaghetti, pepper, and cooking oils.
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According to a survey conducted in Maiduguri, the capital of Borno state, a 50kg bag of rice now sells for N64,000 to N65,000, down from over N80,000 in September 2025.
Similarly, the price of a 100kg bag of maize has reportedly dropped from between N60,000 and N65,000 about three months ago to less than N46,000.
Also in Maiduguri, the price of white beans has reportedly dropped from N105,000 per 100kg bag to N85,000, while a basket of fresh pepper now sells between N6,500 and N8,500.
NAN noted that a 100kg bag of maize now sells around N45,000, crashing from over N60,000; the price of a 100kg bag of millet also dropped from N65,000 to N46,000; and the price of sorghum dropped from above N50,000 to N38,000 in three months.
In Damaturu, Yobe state, the survey noted that at the Bayan Tasha market, a big measure of white beans now sells at N3,000, while a big measure of red beans sells at N2,400, dropping from N6,000 and N4,800 respectively in February.
A big measure of rice in the same market has reportedly dropped from N5,000 in February to N2,500; the price of a big measure of maize has dropped from N2,500 to N1,000; and the same measure of millet goes for N800 as against N2,600.
Similarly, a carton of spaghetti now goes for N13,000, dropping from N19,000 in February, while the price of Kings cooking oil has reportedly dropped from N19,500 to N15,000.
In Benue, the agency reported that prices of rice, beans and guinea corn have all declined to the excitement of customers.
Traders lament food price drop
However, traders are not particularly pleased with the development as they lament that the sharp decline of prices may only be temporary, as it is due to excess supply from farmers and from traders who had hoarded the goods for months.
Traders who spoke with NAN said they were incurring losses as a result of the unexpected crash of food prices.
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They said the prices at which they bought the goods were significantly higher than the current market prices.
A trader in Makurdi, Mrs Onyemowo Ejeh, said:
“I bought medium-sized (50kg) bags of Bambara nuts at the rate of N185,000 in January this year, and now they are pricing a bag for N90,000. I have not been able to sell them because losing N95,000 on each bag is too much to bear.”
The excess supply is attributed to increased supply from farmers as a result of the harvest season, importation of grains, and supply from traders who had allegedly hoarded foodstuffs for months.
Traders fear that after the harvest period, prices may rise again, making it difficult for them to restock.
An agriculturist, Dr Obadiah Noah, advised the government to sustain the current trend by investing in local food production and improving security in farming communities.
Tinubu ordered FEC on food prices
Legit.ng reported that President Bola Tinubu, in September, ordered the Federal Executive Council (FEC) to take urgent and decisive steps to ensure a decline in food prices nationwide.
The president urged relevant ministers to work towards securing transport routes for the safe movement of farm produce across the country.
The National Bureau of Statistics reported that inflation dropped to 18% in October, driven by a decline in food prices, among other factors.
Source: Legit.ng
