'Reduce Prices of Foodstuff' - FG Warns Traders, Shop Owners

Israel Adeleke 

OPEN TELEVISION NAIJA (OTN) News reports that shortly after it was announced that the inflation rate of the nation had dropped to 24.48 percent, the Federal Government of Nigeria has called on traders across the country to reduce the prices of foodstuff in the market.

OTN News further reports that this warning which was issued by the Minister of Agriculture and Natural Resources, Abubakar Kyari, while speaking during the 2025 Wheat Farmers Green Field Day at Dabi village in Ringim Local Government Area of Jigawa State, alleged that most traders were only exploiting Nigerians.

Furthermore, condemning the nonchalant attitude showcased by some traders and farmers alike, the minister said that the drop in inflation has not reflected in the prices of foodstuff in the market, adding that such act from traders is unpatriotic and should not be acceptable any where.

Citing some instances, Kyari said that while the prices of commodities like sugar, rice, flour and pasta has reduced retailers, bakers and even some shop owners still peg their prices on the high side.

He emphasized that these group of people are doing a disservice to Nigerians and are hereby warned to desist from such action.

The minister said, “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,” he added.