Nigerian Govt Urges Retailers to Lower Food Prices as Costs Drop

Nigerian Government Calls on Retailers to Reduce Food Prices Amid Cost Drop
The Nigerian federal government has urged retailers and traders to lower food prices, emphasizing the recent drop in the cost of essential goods like flour and spaghetti.

This call was made by the Minister of Agriculture and Natural Resources, Abubakar Kyari, during the 2025 Wheat Farmers Green Field Day at Dabi village in Jigawa State’s Ringim Local Government Area.

Kyari expressed concern over the reluctance of retailers to adjust their prices despite a significant reduction in market costs, labeling the situation as unfair to consumers.

“The federal government is aware of the price drop in key food items such as flour, sugar, rice, and pasta. However, many retailers, bakers, and shop owners are yet to reflect this reduction in their sales prices, which denies Nigerians the relief they deserve,” Kyari stated.

Significant Drop in Food Prices

The minister highlighted the recent decline in prices of staple goods, including:

• Flour: Dropped from ₦81,000 per bag to below ₦60,000
• Spaghetti: Reduced from ₦20,000 to ₦15,000

Despite this, he noted that many traders continue to sell at previous inflated prices.

“When prices were rising, retailers raised concerns. Now that they have dropped, it is only fair that consumers benefit from this reduction,” Kyari added.

Inflation Rate Declines, But Prices Still High

According to reports, Nigeria’s inflation rate saw a decline in January 2025:

• Headline Inflation: Dropped to 24.48%
• Food Inflation: Reduced to 26.08%

However, the Centre for the Promotion of Private Enterprise (CPPE) has clarified that a decline in inflation does not necessarily mean a direct reduction in the prices of goods and services, leaving many Nigerians struggling with high costs.

What’s Next for Consumers?

With the government pushing for fair pricing, the spotlight is now on retailers to implement the changes. Will food sellers comply and reduce prices, or will Nigerians continue to bear the brunt of market fluctuations?

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