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Thursday, April 3, 2025

Minister Urges Traders to Reflect Food Price Reductions, Condemns Exploitative Practices

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The Minister of Agriculture and Natural Resources, Abubakar Kyari, has issued a strong appeal to retailers, urging them to pass on the recent reductions in food prices to consumers rather than capitalizing on the situation for excessive profit.

Speaking at the 2025 Wheat Farmers Green Field Day in Dabi village, Jigawa State, Kyari expressed concern over what he described as an “unpatriotic and unacceptable” reluctance by retailers to lower prices in line with the declining costs of essential food commodities.

“The federal government is fully aware of the significant drop in the prices of staple goods such as flour, sugar, rice, and pasta,” Kyari stated.

“However, many retailers, bakers, and shop owners have failed to reflect these reductions, effectively denying Nigerians the economic relief they deserve.”

The minister cited specific price movements, noting that the cost of flour had declined from ₦81,000 to below ₦60,000 per bag, while the price of spaghetti had fallen from ₦20,000 to ₦15,000. These reductions, he stressed, must be mirrored in retail prices to ensure affordability for consumers.

Kyari reaffirmed the federal government’s commitment to ensuring food availability and fostering a fair market system, emphasizing ongoing collaborations with industry stakeholders to align retail pricing with current market realities.

The 2025 Wheat Farmers Green Field Day was organized in partnership with the Flour Milling Association of Nigeria, the federal government, and the Jigawa State government, underscoring a collective effort to strengthen Nigeria’s agricultural sector and stabilize food prices.

Kyari’s remarks come amid growing public frustration over high food costs, with many Nigerians struggling to cope despite government interventions.

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