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

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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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Independence Day: FG Declares October 1 Public Holiday

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By Yusuf Danjuma Yunusa

The Federal Government has declared Thursday, October 1, 2026, as public holiday to mark Nigeria’s 66th Independence Anniversary.

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, announced the declaration on behalf of the Federal Government in a statement issued on Wednesday by Dr. Magdalene Ajani, Permanent Secretary, Ministry of Interior.

Tunji-Ojo congratulated Nigerians at home and abroad, describing the anniversary as an opportunity to reflect on the country’s journey since independence and its prospects for the future.

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He highlighted Nigeria’s human capital, natural resources and cultural diversity as key national assets, while stressing the importance of peace and stability to the country’s development.

The minister urged Nigerians to emulate the patriotism of the nation’s founding fathers and contribute to building a country that future generations would be proud of.

“As we celebrate 66 years of our independence, we should always remember that there is hope for our country and our diversity is our strength, and our collective determination remains the foundation upon which a stronger and more prosperous nation will be built,” he said.

Tunji-Ojo also called on citizens to use the celebration to promote unity, patriotism, peaceful coexistence and mutual respect.

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Dangote Sponsors Abuja Trade Fair, Features Refinery IPO

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From Left: Co-Founder/Group Executive, ABIS Group Dr. Illiyasu B. Gashinbaki; Deputy Vice President ACCI and former Minister of Foreign Affairs Dr. Aliyu Idi Hong; Cuban Ambassador to Nigeria Miriam Morales Palmero; Perm Sec Ministry of Special Duties and Intergovernmental Affairs Dr. Onwusoro Madura Ihemelandu; Dangote Representative of the Dangote Group Hashem Ahmed; President ACCI Chief Emeka Obegolu; Namibian High Commissioner to Nigeria Mr. Walde Natangwo Ndebashiya; and Mr. Abdulrazaq Sambajo of the Dangote Group, during a visit to the company pavilion at the 21st Abuja International Trade Fair...Tuesday.

 

Dangote Industries Limited (DIL), one of the sponsors of the 21st Abuja International Trade Fair, will spotlight the ongoing Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals (DPRP) during the company’s Special Day.

The Dangote Special Day, scheduled for Friday October 2, will feature a high-level fireside and business interactive session bringing together representatives of Dangote Group, government, the organised private sector and business leaders to examine the transformative role of the Dangote Refinery in Nigeria’s economic development.

According to the company, the interactive session will provide prospective investors, entrepreneurs, business operators and other participants with an opportunity to engage directly with representatives of Dangote Group and gain a better understanding of the refinery’s ongoing IPO and its broader economic significance.

The session, themed “Dangote Refinery, Vision 2030, ACCI and the Economy,” will examine the refinery’s contribution to Nigeria’s energy security, industrialisation, trade, employment generation, taxation and economic growth.

Particular attention will be paid to how increased domestic refining capacity can reduce Nigeria’s dependence on imported petroleum products, conserve foreign exchange, strengthen local value chains and create new opportunities for businesses across the petroleum, petrochemical, logistics, manufacturing and services sectors.

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The IPO will also feature prominently in the discussions, with participants expected to explore how the public offer can broaden participation in the ownership of one of Africa’s most significant industrial assets, deepen Nigeria’s capital market and provide eligible investors with an opportunity to participate in the country’s ongoing industrial transformation.

The fireside session will bring together senior representatives of Dangote Group, the Abuja Chamber of Commerce and Industry (ACCI), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), government and the wider private sector.

The company said the session would also provide an opportunity to examine Dangote Group’s Vision 2030 and its implications for industrialisation, job creation, local content development, technology transfer, investment and economic diversification.

Beyond the fireside discussion, visitors to the Trade Fair will have the opportunity to engage with the Dangote Group at its pavilion, where the company will showcase a range of products and businesses spanning cement, sugar, salt and seasoning, packaging and other sectors.

Dangote Group’s sustained participation and sponsorship of the Abuja International Trade Fair reflects its continued support for platforms that promote trade, investment, entrepreneurship and stronger linkages between the private sector and government.

The 21st Abuja International Trade Fair, organised by the Abuja Chamber of Commerce and Industry, is expected to bring together hundreds of exhibitors, businesses, investors, policymakers and members of the public, providing a platform for networking, market access, investment promotion and business-to-business engagement.

The company said it looks forward to welcoming participants to the Dangote Special Day and its pavilion to explore the Group’s products, investment opportunities and potential areas of business collaboration.

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15th Emir Of Kano Condemns Destruction Of Governor Yusuf’s Banners, Orders Immediate Replacement

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15th Emir of Kano, Alhaji Aminu Ado Bayero, has expressed displeasure over the destruction of banners bearing the images of the Kano State Governor, Alhaji Abba Kabir Yusuf.

The 15th Emir’s Chief Councillor, Alhaji Aminu Babba Dan’agundi, Sarkin Dawaki Babba, disclosed this while addressing journalists, saying that the Emir had already directed that the damaged banners be repaired.

According to him, 15th Emir Bayero stressed that the traditional institution must remain above partisan politics, saying, “We are fathers of the people, not politicians.” He therefore appealed to the Emir’s supporters and well-wishers to avoid bringing partisan political activities into the affairs of the traditional institution.

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The Sarkin Dawaki Babba also conveyed the 15th Emir’s appreciation to the thousands of supporters men and women, youths and elders who demonstrated their love and loyalty by complying with the government’s directive and accompanying the Emir on foot to his residence at the Nassarawa Palace, despite the heavy rainfall and strong winds.

He said the 15th Emir had no adequate words to express his gratitude to the people for their show of love, patience and solidarity, adding that His Highness prayed that Almighty Allah would reward them abundantly.

The 15th Emir also urged his supporters to continue with prayers, as is customary, for peace, stability and progress in Kano State and Nigeria, as well as abundant blessings and prosperity for the people.

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