Prices of essential food items in Kano have dropped by over 40% following the Federal Government’s intervention, bringing much-needed relief to consumers. The Chairman of Singer Market, Junaidu Zakari, revealed this in an interview with journalists on Monday.
Zakari attributed the price reduction to the government’s decision to remove duties on 43 imported items, including rice, cooking oil, and spaghetti. He explained that this move allowed importers to bring in large quantities of essential goods, which in turn forced prices down.
“There is no gainsaying that the credit truly must go to the Federal Government and indeed our marketers who adhered to the government policy of importing the stipulated commodities, making them available and resulting in the over 40% reduction of their prices,” Zakari said.
Major Price Drops Recorded
According to Zakari, the price of rice, which had skyrocketed to about ₦120,000 per bag, has now dropped to below ₦80,000. Spaghetti, previously sold at ₦20,000 per carton, now costs ₦14,000. Flour, which was sold at ₦90,000 per bag, has reduced to around ₦70,000, while the price of a 50kg container of cooking oil has fallen from almost ₦100,000 to ₦70,000.
“These reductions have made life easier for traders and consumers alike. The supply of rice at ₦40,000 per bag played a significant role in stabilizing the market,” he added.
Also Read:
- TCN Denies National Grid Collapse, Clarifies Power Outage in Some Areas
- NNPCL Imports Over 200 Million Litres of Petrol in February Despite Refinery Restart
Sugar Prices Remain High
Despite the widespread price reductions, sugar remains expensive, a concern Zakari said market leaders are addressing.
“The problem we have now is with sugar. Its price has refused to come down, but we are in talks with Dangote and BUA, who are the major suppliers, to see how we can reduce the cost,” he stated.
Bread Prices Still High Despite Flour Reduction
Zakari also expressed concern over the reluctance of Master Bakers to lower bread prices, despite the significant drop in flour prices. He noted that efforts to engage the Chairman of the Master Bakers Association were unsuccessful.
“We have an association that engaged the Chairman of the Master Bakers, but he told us that they can’t do otherwise because their association has only 20% of bread sellers, while 80% are not their members, so they can’t control them,” Zakari explained.
Zakari commended both the Federal and Kano State Governments for their role in making essential food items more affordable. He urged traders to continue supporting government policies aimed at stabilizing the economy and making food accessible to all Nigerians.
With food prices dropping significantly, many residents in Kano are hopeful that the trend will continue, easing the burden of inflation and improving the standard of living in the state.