Consumers Fear Further Crisis As Prices Of Foodstuffs Continue To Rise

The steep rise in food prices, with inflation rates reaching about 30%, has sparked widespread concern among citizens in Nigeria. Essential commodities like millet, rice, and maize have seen significant price hikes, raising fears of food insecurity. Grain merchant Alhaji Uba Abdullahi Bello attributes the price surge to massive exports to neighboring countries for foreign exchange and increased demand from large corporations. Malam Bashir Idris highlights the strain on average Nigerians, with basic food items becoming increasingly unaffordable relative to the minimum wage. Dr. Abdulhamid Gambo of the SAA explains that the global economic shock is a key factor contributing to the price surge in agro-commodities. Source: DailyTrust

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Nigeria grapples with soaring food prices, reaching a worrying inflation rate of nearly 30%, sparking fears of widespread hunger. Grain merchant Alhaji Uba Abdullahi Bello points to exports and corporate demand as drivers of the price surge, exacerbating food insecurity. Malam Bashir Idris highlights the plight of average Nigerians facing unaffordable basic food items relative to the minimum wage. Dr. Abdulhamid Gambo of the SAA underscores the global economic shock’s role in driving up agro-commodity prices, emphasizing the need for urgent government intervention.