A recent survey by NAN in Yola, Maiduguri, and Damaturu markets revealed significant decreases in the prices of several staple foods compared to February and March.
Yola Central Market:
* 50kg foreign rice: N57,000-N58,000 (down from N80,000-N85,000)
* 100kg beans: N100,000 (down from N110,000)
* 100kg Guinea corn: N55,000 (down from N60,000)
* Big carton of spaghetti: N12,800 (down from N13,500)
* Big carton of Indomie: N13,500 (down from N15,000)
Yobe Markets:
* 100kg white beans: N75,000 (down from N110,000)
* 100kg red beans: N95,000 (down from N130,000)
* 50kg local rice: N45,000 (down from N65,000)
* 100kg Guinea corn: N50,000 (down from N60,000)
Bayan Tasha Market, Damaturu:
* 50kg local rice: N45,000 (down from N65,000)
* 50kg sugar: N78,000 (down from N80,000)
* 25-liter jerry can of cooking oil: N44,000 (down from N60,000)
Maiduguri Markets:
* 50kg foreign rice: N70,000 (down from N80,000)
* 50kg local rice: N63,000
* 100kg maize: N64,000 (down from N75,000)
* 100kg millet: N64,000 (unchanged)
* Sack of onion: N15,000 (down from N35,000)
Price Increases:
* Basket of tomatoes: N18,000 (up from N9,000)
* Sack of Atargu (pepper): N65,000 (up from N52,000)
Causes of Price Reductions:
* Appreciation of the Naira
* Farmers preparing for the next cropping season
Expert Recommendations
* Government should implement mechanisms to control prices of essential commodities.
* Government should sustain the rise in the value of the Naira. CONTINUE READING
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