By Ayomide Otitoju
The Presidency has announced a major decline in food prices across Nigeria, attributing the development to the success of President Bola Ahmed Tinubu’s ongoing economic and agricultural reforms.
In a statement issued on Friday by the Special Adviser to the President on Media and Public Communications, Sunday Dare, the Presidency said the price of a 50kg bag of local rice has fallen from ₦95,000 to ₦40,000, while imported rice dropped from ₦106,000 to ₦70,000.
Data released by the Presidency showed that between February and September 2025, the prices of key food items recorded significant reductions nationwide. A big bag of dry onions declined from ₦202,500 to ₦25,000; maize (100kg) dropped from ₦90,000 to ₦30,000; brown beans (100kg) fell from ₦210,000 to ₦50,000; and a big basket of tomatoes decreased from ₦130,000 to ₦25,000.
Similarly, palm oil (25 litres) reduced from ₦35,000 to ₦28,000, while the price of a medium tuber of yam fell from ₦4,125 to ₦3,600.
According to the statement, the downward trend reflects improved harvests, enhanced logistics, and increased government support for local farmers, leading to better food affordability and easing inflationary pressures.
“The fall in prices reflects better harvests, improved logistics, and stronger government support for local farmers. This has enhanced food affordability, reduced inflationary pressure, and improved the purchasing power of citizens,” Dare stated.
The Presidency added that major staples have recorded between 45 and 52 percent price reductions nationwide, crediting the gains to stable food supply and growing domestic production.
“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 concluded, adding that the reforms are restoring stability, boosting local productivity, and putting Nigeria on a path toward sustainable growth and prosperity.
