Update On Food Price Reduction in Kano, Katsina, Niger, Kwara, and Other Major States

Amidst protests and governmental actions, there has been a significant drop in food prices across various states including Kano, Katsina, Niger, Kwara, and others, offering some relief to citizens burdened by the rising cost of living. This positive development follows widespread demonstrations in Lagos, Kano, and Niger states, where citizens voiced their concerns about economic hardships.

In response to calls from influential figures like former Vice President Atiku Abubakar, the Sultan of Sokoto, Muhammadu Sa’ad Abubakar, and others, as well as groups like the Arewa Consultative Forum (ACF) and Northern Elders Forum (NEF), the government has taken steps to address the escalating economic challenges. CONTINUE READING.....

Several factors have contributed to the decline in food prices. Notably, major feed companies have temporarily halted grain purchases, leading to a shift in market dynamics. Additionally, measures such as restrictions on inter-state movement of food items, increased border surveillance, and crackdowns on hoarding have helped stabilize prices.

Key Updates from Various States:

Kano:

Reports from Kano State indicate a decrease in prices of essential commodities at major markets like Doguwa, Tudun Wada, and Bunkure. The closure of warehouses accused of hoarding grains by the Kano State Public Complaint and Anti-Corruption Commission has played a significant role in driving down prices. For example, the price of a 100kg bag of maize has fallen from N58,000-N60,000 to N48,000-N50,000.

Taraba:

Similarly, Taraba State has witnessed a reduction in prices of maize, millet, sorghum, white beans, soybeans, and dried cassava at various markets. The absence of middlemen making bulk purchases has been identified as a key factor in the price decline. CONTINUE READING.....

Kwara:

In Kwara State, the cost of a 50kg bag of maize has significantly dropped from N65,000 to N40,000 at Ajase market, indicating a positive trend. Farmers and market experts anticipate further reductions in the near future.

Niger:

Residents in Niger State, particularly in Bida, have observed a decrease in the price of a 50kg bag of maize from N52,000 to N48,000, and guinea corn from N48,000 to N39,000. The government's decision to prohibit bulk buying of grains has contributed to this price reduction.

Benue and Katsina:

While Benue State has not yet seen a significant drop in food prices, Katsina State has reported decreasing prices following the withdrawal of animal feed companies from markets.

Industry Interventions:

Major animal feed producers like Premier Feed Mills Ltd (PFM) and Olam Nigeria have temporarily suspended maize offtake due to concerns about food insecurity. This strategic move is viewed as a positive factor in influencing the reduction in grain prices.

The combined efforts of the government, feed companies, and market interventions are creating a more favorable environment for consumers. There is hope that continued collaborative measures will lead to further stabilization of food prices across the country.

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