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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.

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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Sallah Durbar: Cancellation spikes security scare as businesses suffered setback in Kano.

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Unquantifiable economic lose were recorded in Kano over the weekend following the sudden cancellation of the historical Salah Durbar festival.

Although, the Sallah celebration was conducted largely peaceful even after the ban on Durbar, but the security alert invoked by the police had scared visitors and potential investors.

The UNESCO certified global event left about 160 foreign tourists who had flew into Kano stranded after the sudden imposition of ban on the traditional heritage, Kano State History, Culture and Tourism Bureau, confirmed.

Kano Durbar, the largest convergence of horse rides globally dated back over 500 years, attracted international recognition thereby making the UNESCO representative list of intangible cultural heritage of humanity in December 2024.

An entrepreneur, Ahmad Sarki Norma who lamented the economic lost in Kano at the weekend as a result of cancellation of Durbar worried over the overbearing influence and interest on Kano emirate.

According to Sarki Norma, besides the wreckage of profit on micro economic, the livelihood of local artisans who specialize on weaving, and fabrication of horse artifacts and horsemen costumes during Salah Durbar season have been crippled.

” I know that virtually all the costumes we wear during Durbar are 90% handmade. That means, the event usually stimulates huge business activities and opportunities for the local fabricators. So when you cancel the Durbar you are killing and sending them out of business.

” Secondly, when you look into sales of pure water on those five days it’s not an ordinary economy. People come from the villages with 5,000 naira to sell bottle water and beverages and make a lots of profits.

On traditional wears, Sarki Norma said ” a normal traditional toberida, costs at least N150,000, which is almost $80. And you’re expected to wear four of it to the right. And also the horse dress, you can get a horse dress of N4 million, you can get a horse dress of N30,000.

“I can calmly say I spend nothing less than Never2.5 million for these four rides on my own. But when you come to the horse, I have a $10 million horse, I have a $20,000 horse, which are specifically meant for just riding”.

Also speaking on the economic impact, Ahmad Abba Yusuf, Executive Secretary, History and Culture Bureau, Kano, said transport, tourism, and food industries recorded the highest lost in the wake of the Durbar cancellation.

Yusuf equally ascerted that several billions of naira have been lost in the tourism sector including the production and marketing of local materials for the horses and horsemen.

“We do have over 74 traditional title holders that come in a cluster, in groups. So each group contains a minimum of 20 horse riders. So if you can multiply that, if you can be able to deduce the amount of materials for the horses and horsemen, this will be the cost for the Darbar.

“And other local economy, those are the indirect costs attached to it. The people, small-scale traders selling foods, drinks, and other consumables during the Darbar festivities. And also the transport and hospitality accommodation for the tourists and other local royal guests during the Darbar”. Yusuf noted.

Sharing experiences during a media interaction Kano, a tourists in Kano on Thursday, a tourist Virgil Taylor who came from United States of America expressed deep disappointment that his hope to watch the historical durbar was dash.

Taylor who is visiting Kano and Nigeria for the first time to relish the beautiful African culture, worried that after a whole year preparation for the long trip to Africa, he only got to know about the cancellation after arriving Kano.

Taylor, though believed every disappointment is for a purpose, he was delighted to have catched the glimpse of the Emir Muhammadu Sanusi II in a large population during Sallah Day, which he said remain a memorable historical opportunity for him.

“I started planning for this trip over a year ago when I was in Ghana and so I kept doing my research and I understood that there were Durbar that occurred else where throughout Nigeria, but in particular Kano.

“So I started making my preparations and I actually flew in last Friday, I think that was the 27th of March or 28th. I arrived. And until then I learned that the Durbar is not happening again. I had no idea that it had been cancelled before then.

“So yeah, I was disappointed, but I was assured that it would still be a good trip for me and it has been, it’s been extraordinary. The people of Kano have been just very wonderful”. Taylor said.

Another Tourist, a UK based, Lekan Yushau Okanlawon who also flew from London for the Durbar regretted how the cancellation crippled his plans to register the festival on the Guniess book of record for a largest horse proccession in the world besides the UNESCO’s recognition.

Also narrating disappointment, Okanlawon narrated how he had invited friends who are polo players in the UK to join the Durbar procession essentially to witness for the first time, a convergence of over 5,000 horses riding behind a single person.

“So when on the 6th of December, 2024 that UNESCO certified the Kano Durbar and incorporated it into their global heritage program, many of us were happy and we have something internationally recognized to show to our friends abroad.

” So I started discussion with a couple of my friends who have polo teams in the UK. By the way, I came in on the 23rd into Lagos and I flew into Kano on the 24th. I didn’t get to know the Durbar was cancelled until I got there. So I had to quickly send an SOS message to my friends. They don’t have to come again.

“Many of them wanted to come because the only horse riding experience many of them had prior to now has been riding horse for a bit of leisure and more polo. So they have never ride a horse in a long procession.

“So my target with a couple of other friends in Kano and outside Kano that were working together is to ensure that in the next one year we put Kano Durbar procession on the Guinness World Record because Kano has the largest gathering of horse gathering in the world”. Okanlawon added.

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Tinubu’s Political Adviser, Hakeem Baba-Ahmed Resigns

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Dr Hakeem Baba-Ahmed, the political adviser to President Bola Ahmed Tinubu, has resigned, it was reliably learnt.

Impeccable sources in the presidency confirmed yesterday that the former spokesman of the Northern Elders Forum (NEF) tendered his resignation about two weeks ago.

The sources said Dr. Baba-Ahmed did not provide details of the reasons for his decision, only stating that it was on personal grounds. However, as of the time of filing this report, it was unclear whether the presidency had accepted his resignation.

Baba-Ahmed was appointed Special Adviser on Political Matters in the Office of Vice President Kashim Shettima in September 2023.

 

Daily Trust

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Islamic Scholar Dr Abdul Aziz Dutsen Tanshi Is Dead

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A prominent Islamic cleric, Imam Dr. Idris Abdul’aziz Dutsen Tanshi, has passed away.

Sheikh Muhammad Kabir Haruna confirmed his death on his verified Facebook account late on Thursday night.

Late Imam Dutsen Tanshi was a leading Islamic scholar in Africa, widely recognized for his contributions to disseminating Islamic teachings across the continent.

In addition to his scholarly work, Imam Idris was also a businessman and farmer.

He had been contending with ill health for some time, and recently traveled abroad for medical treatment during the last Ramadan.

His funeral will be held at 10:00 a.m. on Friday at the Eid Mosque in Games Village, Bauchi state.

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