The Federal Government has announced a significant drop in the prices of key food staples across Nigeria, attributing the development to President Bola Ahmed Tinubu’s ongoing economic reforms.
In a statement issued on Friday and titled “Nationwide Food Price Drop, A Testament to President Bola Ahmed Tinubu’s Economic Impact,” the Special Adviser to the President on Media and Public Communication, Sunday Dare, said the decline in food prices is a clear sign that the administration’s economic policies are yielding results.
According to data provided by the Presidency, the price of a big bag of dry onions, which sold for ₦202,500 in February, now stands at ₦25,000. A 50kg bag of local rice dropped from ₦95,000 to ₦40,000, while imported rice fell from ₦106,000 to ₦70,000.
Other major staples have also seen dramatic price reductions. The price of maize declined from ₦90,000 to ₦30,000 per 100kg, brown beans from ₦210,000 to ₦50,000, and a big basket of tomatoes from ₦130,000 to ₦25,000. Similarly, a 25-litre keg of palm oil now sells for ₦28,000, down from ₦35,000, while the average price of a medium-sized tuber of yam has fallen to ₦3,600 from ₦4,125 recorded earlier in the year.
The Presidency noted that the fall in prices reflects improved harvests, better logistics, and increased government support for local farmers through targeted interventions.
“The drop in food prices is more than just a market adjustment, it is proof that the economic direction under President Bola Ahmed Tinubu is yielding measurable results,” the statement said. “The reforms are restoring stability, boosting local productivity, and putting Nigeria firmly on the path to sustainable growth and prosperity.”
The report also indicated that key food items recorded between 45 and 52 percent reduction nationwide, with stronger local production driving market confidence and easing inflationary pressures.
The Presidency reaffirmed its commitment to sustaining the policies responsible for stabilising food prices and strengthening the purchasing power of Nigerians.
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Agnes Ekebuike Editor, Naija247news in Lagos, Nigeria.
