The Minister of Agriculture and Food Security, Abubakar Kyari, has cautioned traders and food vendors against maintaining high prices despite a decline in production costs.
He urged them to reflect market realities in their pricing to ease the financial burden on consumers.
According to a report by NTN News on Thursday, Kyari stated that the government has observed a notable drop in the prices of staple foods such as flour, sugar, rice, and pasta across major markets. However, he expressed concern that many retailers and bakers have yet to adjust their prices accordingly.
“It is unacceptable that, despite the reduction in the cost of essential food items, consumers have yet to experience any relief,” Kyari said. “We urge all vendors, shop owners, and bakers to stop exploiting Nigerians and adjust their prices to reflect current market trends.”
The minister reaffirmed the government’s commitment to tackling food security challenges but emphasized the need for cooperation from all stakeholders.
“The people deserve relief, and we must all play our part in ensuring food remains affordable for every Nigerian,” he added.
