Foodstuffs now more affordable, Presidency claims

The Presidency has claimed that food prices are declining across Nigeria, citing falling rice prices and improving economic indicators under President Bola Tinubu’s administration.

According to Nigerian Tribune, presidential spokesman Bayo Onanuga made the assertion on Friday while accusing television presenters of promoting opposition narratives about the economy.

Onanuga said rice, previously selling for N120,000 per bag, now costs below N50,000 in some markets.

“The favourite rice that at a time was selling for N120k a bag has crashed below N50k. In my hometown, a bag now sells for N45K. Under President Tinubu, Nigeria is making tremendous progress.”

He also claimed Nigeria’s foreign reserves were approaching $60 billion, while foreign direct investment was increasing.

Onanuga maintained that Nigerians could now use naira cards abroad and businesses could access foreign exchange more easily.

He criticised media commentators questioning official inflation figures, insisting the administration had established a foundation for economic prosperity despite criticism from opposition figures and other commentators nationwide.