DAILY TRUST
Food prices have started dropping at major grain markets in Kano, Taraba and Niger states, Daily Trust can report.
There had been protests in Lagos, Kano and Niger states against the hardship in the land.
The latest demonstration against the high cost of living was staged in Ibadan, Oyo State.
Prominent Nigerians, including former Vice President Atiku Abubakar, the Sultan of Sokoto, Muhammadu Sa’ad Abubakar; the Emir of Kano, Aminu Ado Bayero; among others, as we as the Arewa Consultative Forum (ACF) and Northern Elders Forum (NEF) had called on the federal government to take measures to address the situation.
President Bola Tinubu and state governors last Thursday met on measures to bring down prices of food items.
Some factors have been cited as responsible for the drop in prices of food items, among them the decision by multi-billion naira feed companies, the stoppage of inter-state movement with food items in some parts of the country, increased surveillance around borders to stem export and clampdown on some people discovered to be hoarding the grain
Kano
Reports from Kano State yesterday had it that prices of maize, soya beans, beans and rice had dropped at Doguwa, Tudun Wada and Bunkure markets and others.
A grain merchant, Hudu Faruk, attributed the price drop to the sealing of warehouses accused of hoarding grains by the Kano State Public Complaint and Anti-Corruption Commission.
“They have asked us to halt the purchase of commodities and many merchants are apprehensive on the matter hence, they quit buying last week. Perhaps, this is the main reason behind the drop in price,” he said.
A trader at Bunkure Market, Adam Isah Barkum, attributed the drop in food prices to the drop in demand from major buyers.
In some of the markets visited by our correspondent in Kano, it was observed that a 100kg bag of maize which was sold for between N58,000 and N60,000 last week, was sold at between N50,000 and N48,000 yesterday; while the price of beans dropped from N94,000 to N85, 000.
