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Drop in Price of Food Items: Government Stabilizing the Economy or Compassion by Business Community?

Published

12 months ago

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Abbas Yushau Yusuf

Recently, there has been a noticeable drop in the price of food items across major markets in many parts of Nigeria. NIGERIAN TRACKER monitored the situation and visited one of the major markets in Northern Nigeria, the Yankaba market in Kano, to understand the reasons behind this trend.

Alkasim Ahmad, a businessman who sells cereals, shared the old prices and the new dropped prices in the market. “Before, maize was sold at 1,800 Naira per mudu, but now it’s 1,500 Naira. Millet used to be 1,700 Naira, but now it’s between 1,560 and 1,600 Naira. A bag of millet was previously 65,000 Naira, but now it’s 58,000 Naira,” he said.

Similarly, guinea corn is now being sold at 58,000 Naira per bag, with the price per mudu at 1,500 Naira. Previously, it was sold at 1,800 Naira per bag. However, the price of rice has not seen much change. Reports indicate that spaghetti, especially foreign brands, has dropped from 20,000 Naira to 17,000 Naira, and in some places, even 16,000 Naira.

The price of soya beans has also seen a reduction. “The price per mudu has dropped to 2,400 Naira, and in some places to 2,350 Naira, from the previous 2,800 Naira. The whole bag of soya beans used to be 110,000 Naira, but now it has dropped to 90,000 Naira,” Alkasim Ahmad added.

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For normal beans, the price per bag was previously 95,000 Naira, but now it’s being sold at 85,000 Naira. The price of wheat has remained unchanged, with the price per mudu still at 3,000 Naira and the bag at 115,000 Naira.

Dr. Mustapha Garin Gabas, a Lecturer of Economics at Sule Lamido University, Jigawa State University Kafin Hausa, explained the reasons for the drop in food prices to NIGERIAN TRACKER. He said, “The inflation in Nigeria is not necessarily due to some external forces, but is typically driven by scarcity, especially for food items. Now is the harvesting period for cereals like sorghum, millet, rice, and beans. This is the peak harvesting period, and the availability of these items has led to the drop in prices.”

He added, “Rural households now have food items at their disposal until their supply is exhausted. This year’s rainy season has resulted in a bumper harvest, particularly in the northern part of the country, compared to last year. Sometimes, prices go up when items are not available in the market. There is also a little stability in the exchange rate, which, although not completely stable, has remained between 1,000 and 1,600 Naira for a long period of time, facilitating stability in prices.”

The drop in food prices raises questions about whether the government’s efforts to stabilize the economy are yielding results, or if it is the compassion and cooperation of the business community that is driving this positive change.

Regardless of the reason, the reduction in food prices is a welcome relief for consumers across Nigeria, providing them with much-needed economic respite.

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Senate Amends INEC’s Pre-election Notice Period from 360 to 180 Days

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2 hours ago

on

February 4, 2026

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By Yusuf Danjuma Yunusa

The Senate has reduced the timeline for the Independent National Electoral Commission (INEC) to publish the notice of election from 360 days to 180 days.

This followed the adoption of a motion by Senator Tahir Monguno who moved that the earlier 360 days required for INEC to publish the notice of election be reduced to 180 days.

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Monguno explained that the reduction in date was necessary to enable INEC meet up with the requirements on publication of notice, saying that it was already late if the 360 days was taken into consideration regarding the next general election.

With the amendment, INEC now have more time left to publish the notice for the 2027 elections.

Daily Trust

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JUST IN: Senate Rules Out Mandatory Electronic Transmission of Election Results

Published

3 hours ago

on

February 4, 2026

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By Yusuf Danjuma Yunusa

The Nigerian Senate has rejected proposed amendments that would have made electronic transmission of election results compulsory, opting instead to retain the existing provisions from the 2022 Electoral Act.

During plenary session on Wednesday, senators considered the Bill for an Act to Repeal the Electoral Act No. 13, 2022, and Enact the Electoral Act, 2025. A key proposed clause (new Clause 60(5)) that would have required presiding officers to electronically transmit polling unit results in real time to INEC’s IReV portal after completing Form EC8A was rejected.

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The Senate retained the 2022 framework, which mandates manual completion, signing, stamping, and distribution of results to party agents and security personnel, with results announced at polling units and transferred “in a manner as prescribed by the Commission” – without mandating electronic transmission.

Senators also rejected Clause 47, which sought to allow electronically-generated voter identification (such as downloadable voter cards with QR codes) for accreditation.

The requirement to present a physical Permanent Voter’s Card (PVC) remains in place, while the use of the Bimodal Voter Accreditation System (BVAS) or other INEC-prescribed devices for verification was upheld.

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INEC Concludes 2027 Election Timetable, Decries Legislative Delays in Electoral Acts Amendment

Published

4 hours ago

on

February 4, 2026

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By Yusuf Danjuma Yunusa

 

The Independent National Electoral Commission (INEC) has stated that its preparations for the 2027 general elections remain on course, despite pending amendments to the Electoral Act in the National Assembly.

INEC Chairman, Prof. Joash Amupitan, made the announcement on Wednesday in Abuja during a stakeholder briefing with Civil Society Organisations (CSOs).

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He revealed that the commission has already drafted a preliminary timetable and schedule of activities for the polls. However, he noted that the timeline remains contingent on the National Assembly’s passage of the amended Electoral Act.

“We have submitted our recommendations for the Act’s amendment to the legislature,” Amupitan said. “While our preparations are advancing steadily, the finalization of some activities will depend on when the new law is enacted.”

The Chairman assured that the commission would adapt its plans as necessary once the legal framework is in place, affirming that the delay would not compromise INEC’s commitment to conducting credible, free, and fair elections.

“Until the amended Act is passed, we will continue to operate under the existing electoral law,” he stated. “Our focus remains unwavering on delivering our constitutional mandate.”

Amupitan also emphasized the importance of continued partnership with CSOs and other stakeholders to bolster public confidence and ensure a transparent electoral process ahead of the 2027 polls.

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