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Nigerians Still Struggling Amid High Food Costs Despite Inflation Drop

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The National Bureau of Statistics (NBS) recently announced that Nigeria’s inflation rate dropped to 23.18% in February 2025 from 23.51% in the previous month. While government officials and supporters welcomed the news as a sign of economic recovery, many Nigerians continue to face high food prices and increasing transportation costs, making basic necessities challenging to afford.....KINDLY READ THE FULL STORY HERE▶

In his Ramadan message, President Bola Tinubu expressed optimism, stating that his administration’s policies are yielding positive results, with a gradual stabilization of the foreign exchange rate and a reduction in food prices. However, Naija News investigations reveal that, although some food items are now cheaper than in December 2024 and January 2025, prices remain significantly higher compared to when President Tinubu assumed office.

Food Price Comparison:

  • A bag of rice: ₦70,000 – ₦75,000 (previously ₦82,000 – ₦85,000)
  • A bag of beans: ₦80,000 – ₦85,000 (previously ₦102,000)
  • A tuber of yam: ₦3,000 (previously ₦4,000 – ₦5,000)
  • A bag of garri: ₦38,000 – ₦40,000 (previously ₦48,000)
  • 25 liters of palm oil: ₦48,000 (previously ₦60,000)
  • 25 liters of groundnut oil: ₦60,000 (previously ₦90,000 – ₦100,000)
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Despite the slight reduction in prices, many commodities remain unaffordable, leading to skepticism regarding the official inflation data, as it does not translate into noticeable economic relief.

Reasons for Persistently High Food Prices Speaking to Naija News, Global Affairs Analyst Gbenga Onifade explained that, despite the decline in inflation, the cost of food remains high due to market dynamics and economic uncertainty. Onifade noted that traders often maintain high prices as they anticipate potential future increases. Furthermore, Nigeria’s persistent security challenges and supply chain disruptions contribute to the price stagnation.

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Addressing the Root Causes of Inflation Onifade emphasized the need for long-term solutions, including policy reforms and investment in agriculture. He acknowledged recent government palliatives but stressed that short-term financial aid alone would not resolve underlying economic issues. Strengthening infrastructure and providing farmers with financial support are crucial steps toward stabilizing food prices.

While the NBS data indicates economic improvement, most Nigerians are yet to experience meaningful relief. Addressing the root causes of inflation remains essential to bridging the gap between official statistics and everyday realities.

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Kwara PDP Protests As Govt Moves To Reopen Robbery Case Against Saraki, Others.

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The Peoples Democratic Party (PDP) in Kwara State has strongly opposed reported moves by the state government to revisit the alleged Offa robbery case involving former Governor Abubakar Bukola Saraki and others.....KINDLY READ THE FULL STORY HERE▶

reports that the party made its position known during an emergency press conference in Ilorin on Friday, describing the development as politically motivated and unjust.

PDP spokesman, Comrade Olushola Adewara, said the alleged plan to reopen the case amounts to an attempt to politicise a matter that has already been concluded by the courts.

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He alleged that the move was targeted at dragging Saraki into a case in which, according to him, legal authorities had previously found no evidence linking him to the incident.

Adewara referenced earlier legal opinions from the Office of the Attorney General of the Federation, which reportedly stated that Saraki was not connected to the robbery case.

The party insisted that suspects in the case had already been prosecuted and convicted, with judgments upheld at appellate levels, while the matter is currently before the Supreme Court.

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PDP urged Governor Abdulrahman Abdulrazaq to focus on governance rather than what it described as attempts to revive old political narratives.

It also called on security agencies to monitor the situation closely, warning that such actions could heighten political tension in the state.

The party further appealed to residents, especially families of victims in Offa, not to allow their pain to be used for political purposes.

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2027: Oyo APC Senator Alli Declares Governorship Ambition.

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Senator representing Oyo South, Sharafadeen Alli, has declared his intention to contest the Oyo State governorship election ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

reports that Alli, who serves under the All Progressives Congress (APC), made the declaration on Friday during a formal event held at the Police Field in Yemetu, Ibadan North Local Government Area.

The APC chieftain and Ekaarun Balogun of Ibadanland said he will be running on the platform of his party.

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The event attracted thousands of APC leaders, stakeholders, and members, including top political figures such as Senator Yunus Akintunde, House of Representatives members Akin Alabi, Aderemi Oseni, Akeem Adeyemi, Olafisoye Akinmoyede, Tajudeen Abisodun, and Senator Hamzat Adeseun.

Also in attendance were former Deputy Governor Iyiola Oladokun, Asiwaju Yemi Aderibigbe, and Alhaji Fatai Ibikunle, among others.

Alli said his decision followed wide consultations with stakeholders and was driven by his desire to advance the development of Oyo State.

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He noted his past political experience, including serving as Chairman of Ibadan North Local Government and Secretary to the Oyo State Government under Senator Rasidi Ladoja, as well as his current role in the Senate, where he said he has consistently advocated for his constituents.

According to him, his ambition is focused on delivering better governance and moving the state forward.

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Showunmi Declares For Ogun 2027 Governorship, Seeks IPAC Support.

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A PDP chieftain and convener of The Alternative, Otunba Segun Showunmi, has declared his intention to contest the 2027 Ogun State governorship election.....KINDLY READ THE FULL STORY HERE▶

reports that Showunmi made the announcement during a courtesy visit to the Inter-Party Advisory Council (IPAC) secretariat in Abeokuta on Friday.

He called for a broad political coalition involving opposition parties and grassroots groups to challenge what he described as the failures of dominant political forces in the state.

Showunmi argued that political parties may choose or endorse candidates, but insisted such arrangements must not deny voters a genuine electoral choice.

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He said: “I will be running for governor in the 2027 governorship election. I have come to plead with you to set up a small committee… to determine how we can collaborate to make this happen.”

He also questioned whether Ogun State would experience a “coronation” or a competitive election process, urging stakeholders to allow open political contest.

The PDP chieftain noted that Ogun West’s long-standing exclusion from producing a governor is a legitimate grievance, but stressed that aspirations must still be tested through competition.

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He advocated issue-based campaigns ahead of 2027, rejecting “money politics” and challenging aspirants to public debates on governance.

Showunmi maintained that he has no history of violence or political thuggery, insisting the election should be centred on ideas and development plans for the state.

In response, IPAC leadership and other political actors at the event called for collaboration and careful selection of leaders ahead of the 2027 elections.

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