Nigeria recorded an average of about 7.2 percent reduction in the prices of major food items consumed in many households in the country in the last few days, The PUNCH’s market survey has shown.
The publication revealed that there seems to be some form of relief at the moment for Nigerians, especially those in the low to middle income bracket.
Prior to now, Nigeria’s inflationary figures surged astronomically, rising to an all-time high in two decades.
According to figures released by the National Bureau of Statistics (NBS), food inflation rose by 3.21%, with core inflation hitting 2.24% in February.
However, according to latest market surveys carried out last week around popular markets in the country, there seems to be a reduction in the prices of some food items.
Among them is noodles, garri, rice and beans.
A 40-pack carton of Indomie Regular Chicken 70g, which sold for N10,650 now sells for N8,900.
Garri, which was sold at N150/cup, now sells for N100.
A cup of rice and beans, which sold for N450 and N400/cup respectivey, now sells below N400.
Indomie standard pack 100g, which sold for N15,000 now go for N12,300 per carton.
In the same vein, the 40-pack carton of Indomie Super Pack Chicken Flavor 120g which sold for N17,950 now sells for N14,700.
A Dangote 50kg sugar goes for N88,000, Stallion Long grain rice which sold for N88,000 now sells for N86,000, while the price for short grain rice fell to N78,000 from N80,000.
Fifteen pints of Honeybeans which sold for N78,000 now sells for N75,000, while 32 pints of brown beans now sells for N155,000 as against the previous N165,000.
Meanwhile, Abba Yusuf, governor of Kano, has urged President Bola Tinubu to open land borders to enhance food security in the country.
Yusuf spoke on Monday during a courtsey visit by Adewale Adeniyi, comptroller-general of the Nigeria Customs Service (NCS), in Kano.
Yusuf, who lamented the harsh economic condition being experienced by Nigerians, said reopening of the borders would check inflation and cut prices of food items.
