Food Prices Fall in Adamawa, Borno, Yobe According to NAN

Adamawa, Borno, and Yobe have seen a significant decrease in the cost of essential food items according to a survey conducted by the News Agency of Nigeria (NAN) in their markets. This decline is providing some respite for families who have been grappling with the high cost of living. 

The reduced prices are particularly noticeable in the markets of Maiduguri, Yola, and Damaturu, where staples like rice and beans are now more affordable than they have been in recent months.

A closer look at the price drops

According to NAN, in Yola’s bustling Central Market, traders have reported a notable reduction in the prices of several key food items. A 50kg bag of foreign rice, which previously sold for between ₦80,000 and ₦85,000, is now available for ₦57,000 to ₦58,000. Similarly, a 100kg bag of beans that once fetched ₦110,000 has dropped to ₦100,000. These price adjustments are making it easier for families to afford their daily meals without stretching their budgets too thin.

Local trader Malam Suleiman Adamu attributes this price relief to the strengthening of the Naira. He notes that the improved currency value has reduced the cost of imported goods, including food products, and hopes the government will continue policies that strengthen the national currency.

Dr. Mohammed Tukur, a lecturer at Adamawa State Polytechnic, emphasizes the role of government in stabilizing food prices. He advocates for mechanisms that can control price fluctuations to ensure that essential commodities remain accessible and affordable for all citizens. 

Such measures could help maintain the downward trend in food prices and prevent future spikes that could put basic necessities out of reach for many.

Its impact on the local markets

The drop in food prices is also evident in other parts of the region. In Damaturu, the price of a 50kg bag of local rice has decreased from ₦65,000 to ₦45,000. The chairman of the local traders association, Alhassan Ibrahim, explains that this price drop is due to various factors, including the seasonal sell-off by farmers who need cash to prepare for the next cropping season. This influx of goods in the market leads to lower prices, benefiting consumers.

In Maiduguri, the story is similar, with a 50kg bag of foreign rice now selling for ₦70,000, down from ₦80,000. The price of local rice and other staples like maize has also decreased, providing much-needed relief to the local populace.