As Nigeria anticipates the reopening of its borders, families across the country are grappling with the harsh reality of skyrocketing food prices, particularly hitting low and limited-income households the hardest.
The cost of essential commodities remains stubbornly high, with staples like eggs and bread becoming unaffordable for many. Consumers, faced with nearly doubled prices for eggs and steep increases in meat, fish, chicken, cereal, and bread, are feeling the strain on their wallets.
In Abuja, the Association of Master Bakers and Caterers of Nigeria is sounding the alarm over the escalating prices of baking materials, citing recent price hikes in flour and sugar. This, coupled with a challenging foreign exchange rate, has pushed many businesses to the brink.
Meanwhile, the cost of other food items continues to rise, with items like cooking oil, sugar, rice, yam, and spices seeing significant price hikes. Despite hopes that opening the borders would ease the burden, traders report that prices remain high, leaving many Nigerians struggling to afford basic necessities.
In response, the International Monetary Fund (IMF) has urged the Nigerian government to implement social protection measures to alleviate the hardships faced by its citizens. With inflation at nearly 30 percent, addressing food insecurity has become an immediate priority.
While recent monetary policy measures aim to curb inflation, Nigerians are left waiting for relief as they continue to navigate the challenges of high food prices in their daily lives.
