Just another News Updates
The Federal Competition and Consumer Protection Commission (FCCPC) has refuted claims that it plans to regulate the prices of food items and other commodities in Nigeria, emphasizing that its recent directives are aimed solely at curbing exploitative practices and maintaining a competitive market. This clarification came in a statement issued on Tuesday by Ondaje Ijagwu, […]
Emir of Kano, Muhammadu Sanusi II, has criticized the severe economic hardship in Nigeria under President Bola Tinubu’s administration. Speaking at the Kano Government House on Thursday, where free fertilizer was being distributed to 52,800 farmers across Kano State’s 44 local government areas, Sanusi described the current economic situation as “unbearable.” He noted that people […]
The Federal Government has been urged by the Rice Farmers Association of Nigeria (RIFAN), Lagos State chapter, to support local rice farmers rather than allow importation. Raphael Hunsa, Chairman of RIFAN Lagos State, expressed this during an interview with NAN in response to the recent federal government policy allowing duty-free imports for the next 150 […]
The Federal Government’s recent announcement of a plan to reduce food prices within six months has ignited a significant backlash from Nigerians on social media. On Wednesday, the Minister of Agriculture and Food Security, Abubakar Kyari, outlined a comprehensive strategy intended to significantly lower food prices within 180 days. Key measures include a 150-day duty-free […]
The National Harmonized Traders Union of Nigeria has expressed mixed reactions to the Federal Government’s decision to grant tax exemptions on the importation of essential food items, including rice, maize, brown rice, cowpeas, and others. The union acknowledged that this measure could serve as a short-term solution to alleviate current food shortages and mitigate the […]
Economists caution that despite the recent appreciation of the naira against the dollar, Nigerians shouldn’t expect an immediate drop in food prices. They explain that there’s typically a delay between currency fluctuations and changes in commodity prices. The reason behind this delay lies in the existing stock purchased at higher prices, which businesses need to […]
Amidst a surge in food prices, Ukraine has extended a helping hand to Nigeria by donating 25,000 tonnes of wheat as emergency food aid. This assistance aims to support 1.3 million vulnerable individuals affected by crises in northeastern Nigeria. The donation, facilitated through the United Nations World Food Program (WFP), is part of Ukraine’s “Grain […]
In response to concerns over food security, Premier Feed Mills Ltd and Olam Nigeria have temporarily ceased the procurement of maize and sorghum, leading to notable price drops across various states. Market reports indicate a significant decrease of over 10% in maize and sorghum prices in major markets such as Taraba, Plateau, Kaduna, Kano, and […]
Residents of Zamfara State are raising alarm bells due to the unprecedented surge in foodstuff prices. A recent survey conducted by journalists in various major markets in Gusau, the state capital, has revealed an alarming increase of more than 100 percent in the prices of essential food items within the past month. This surge in […]
The Nigerian Government has threatened to sanction members of trade associations across the country over what it described as indiscriminate and irrational hikes in food prices and anti-competitive practices. Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, made this known on Tuesday during a forum organised by the commission […]