By Sabiu Abdullahi
The federal government of Nigeria has called on retailers to reduce food prices, adding that failing to reflect the recent price drop is unfair to consumers.
The Minister of Agriculture and Natural Resources, Abubakar Kyari, made this appeal on Tuesday during the 2025 Wheat Farmers Green Field Day at Dabi village in Jigawa State’s Ringim Local Government Area.
Kyari criticized retailers for not adjusting their prices despite the decline in costs, labeling their actions as unpatriotic.
“The federal government is aware of the significant drop in the prices of food items across major markets, particularly for essential commodities such as flour, sugar, rice, and pasta.
“However, it is deeply concerning that many retailers, bakers, and shop owners have refused to reflect this reduction in their selling prices, thereby denying Nigerians the relief they deserve.
“In previous months, stakeholders in the retail value chain raised concerns about the rising cost of food items. Now that the prices have dropped, such as flour, which fell from N81,000 per bag to below N60,000, and spaghetti, which has fallen from N20,000 to N15,000.
“It is only fair and just to let consumers benefit from food price reduction,” Kyari said.
Recent data from the National Bureau of Statistics (NBS) indicates that Nigeria’s headline inflation rate fell to 24.48% in January 2025, with food inflation declining to 26.08%, down from 34.8% and 39.84% in the previous month.
The decline is attributed to a rebasing of the country’s consumer price index.
However, the Centre for the Promotion of Private Enterprise clarified that the lower inflation rate does not necessarily mean a reduction in the overall prices of goods and services.