By DAYO ADESULU
Minister of Agriculture Condemns Price Exploitation Despite Cost Reductions
The Federal Government has called on retailers to adjust their prices to reflect recent reductions in food costs, urging them to stop exploiting consumers.
Speaking at the 2025 Wheat Farmers Green
Field Day in Dabi village, Ringim Local Government Area, Jigawa State, on Tuesday, Minister of Agriculture and Natural Resources, Abubakar Kyari, expressed concerns over retailers’ refusal to lower prices despite significant drops in the cost of essential commodities.
Retailers Accused of Price Gouging
Kyari described the situation as “unpatriotic and unacceptable”, emphasizing that while food prices have declined in major markets, consumers are yet to feel the relief.
“The federal government is aware of the significant drop in the prices of food items across major markets, particularly for essential commodities such as flour, sugar, rice, and pasta,” Kyari stated.
“However, it is deeply concerning that many retailers, bakers, and shop owners have refused to reflect this reduction in their selling prices, thereby denying Nigerians the relief they deserve.”
Drop in Food Prices Ignored by Retailers
According to the minister, staple food prices have dropped significantly in recent months:
- Flour: From ₦81,000 per bag to below ₦60,000
- Spaghetti: From ₦20,000 per carton to ₦15,000
Despite these reductions, he noted that many retailers continue to sell at inflated prices, preventing Nigerians from benefiting from the price relief.
Government Pledges Action
Kyari reiterated the federal government’s commitment to ensuring food availability and promised to engage relevant stakeholders to ensure that current market realities are reflected in consumer prices.
The event, organized in collaboration with the Flour Milling Association of Nigeria, the federal, and Jigawa state governments, aimed to strengthen Nigeria’s agricultural sector and food supply chain.
