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Food Prices Remain High Globally as Nigeria Sees Slight Relief
Food prices are staying stubbornly high around the world, even as Nigeria reports a modest slowing in food inflation.....KINDLY READ THE FULL STORY HERE▶
Global food commodity prices reached a two-year high in July, driven by surging meat and vegetable oil costs, according to the United Nations’ Food and Agriculture Organization. Meanwhile, in Nigeria, food inflation was 22.74 % in July — down slightly from earlier months but still placing strain on households.
Key Facts First
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The FAO’s Food Price Index averaged 130.1 points in August, nearly unchanged from July, but still about 6.9 % higher than a year ago.
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In Nigeria, food inflation remains the largest component of overall inflation.
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Essential food items such as rice, onions, tomatoes, and peppers have seen sharp price rises over the past year, pushing the cost of preparing staple meals upward.
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Global food price pressures are being fuelled by increases in meat and oil markets, even as cereals and dairy costs have eased.
Background and Trends
The FAO index, which tracks prices of major food commodities, showed mixed movements in August: declines in cereals and dairy offset increases in meat, sugar, and vegetable oils. Meat prices reached record levels, while global vegetable oil costs climbed further.
In Nigeria, inflation has been under pressure since 2023, following policy changes including subsidy removals and currency devaluation. The “Jollof Index” — which tracks the cost of ingredients for the popular rice dish jollof — showed that the cost of making one pot of jollof jumped steeply, reflecting broader food cost stress.
Earlier in 2025, Nigeria’s headline inflation also eased slightly, even as food prices remained high. Officials note that part of the easing comes from changes to how inflation is measured — including updating the base year and reweighting the consumption basket.
Voices from the Field
A consumer in Lagos said, “I’m eating less variety now. Tomatoes and peppers cost too much.” (paraphrased)
Economists warn that even a small drop in inflation doesn’t mean relief is close. Rising global commodity costs, supply chain disruptions, and climate shocks still threaten further price shocks.
A researcher with the FAO noted that “price pressures in meat and vegetable oils continue to counterbalance declines in cereals and dairy.”
Human rights groups in Nigeria say the high cost of food is deepening poverty, and the poorest households are cutting portions or skipping meals.
Impact and Next Steps
For many families in Nigeria and elsewhere, food remains the largest share of household spending. High prices erode savings and increase the risk of hunger or malnutrition.
Governments are under pressure to intervene. Potential actions include subsidies, targeted assistance to the poor, and efforts to stabilize food supply chains.
Analysts say long-term solutions will require expanding local agricultural production, improving infrastructure, and reducing volatility in global commodity markets.
As the world enters the last quarter of 2025, how successfully nations manage food price pressures could shape economic stability and public welfare.
In the ongoing ₦7.8 billion fraud trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, a prosecution witness has provided testimony regarding massive cash deposits made on his behalf.....KINDLY READ THE FULL STORY HERE▶
Key points from the testimony of the third prosecution witness, Richard Agulu, a former Zenith Bank employee, include:
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Cash Deposits: Agulu testified that he deposited billions of naira in cash on behalf of the former CBN chief, with the funds delivered to him by Emefiele’s former personal assistant, Eric Ocheme.
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Account Handling: According to the witness, the money was either deposited into accounts for Kelvito Integrated Services and Ifeabigo Integrated Services or placed in the bank’s vault, following instructions allegedly relayed through Ocheme.
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Banking Procedures: Despite the large sums, Agulu maintained that he followed standard banking procedures, noting that some clients were granted verbal waivers by senior officials to deposit large amounts of cash.
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Refusal to Name Officials: When asked to identify the senior bank officials who provided these verbal waivers, Agulu declined to provide names to avoid getting anyone in trouble.
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Additional Transactions: Agulu also testified that he supervised a transfer of ₦1.6 billion to MG Properties Limited.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on eight counts, including criminal breach of trust, conspiracy, forgery, and unlawful possession of properties allegedly linked to proceeds of crime; Emefiele has entered a plea of not guilty. Eric Ocheme, who was named in the charges, is reported to be at large. Justice Yusuf Halilu has adjourned the trial for continuation on November 3, 4, and 5, 2026.
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“From Political Firebrand To Top Diplomat: Fani-Kayode’s Strategic Southern African Move!”
Former Minister of Aviation, Chief Femi Fani-Kayode, has officially received his Letters of Credence for his role as Nigeria’s High Commissioner to South Africa, Lesotho, and Eswatini. Fani-Kayode announced the news on Tuesday, noting that the appointment followed the approval of the required agrément.....KINDLY READ THE FULL STORY HERE▶
The Letters of Credence were presented to him on behalf of President Bola Tinubu by the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye. Fani-Kayode stated that he is preparing to report to Pretoria to present his letters to South African President Cyril Ramaphosa and begin his diplomatic duties. Reflecting on his appointment, the former minister—who served in the aviation sector two decades ago—expressed his gratitude to President Tinubu for the trust placed in him and requested prayers for his success in this new role.
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“I’ll Kill For Her!” Kunle Fawole Drops Shocking Bombshell About Ex-Flame Yvonne Jegede!.
Nollywood actor Kunle Abounce Fawole recently opened up about his relationship with his ex-wife, Yvonne Jegede, in an interview with Chude Jideonwu. While confirming that he no longer holds romantic feelings for her, Fawole emphasized that he maintains a deep sense of responsibility and respect for her as the mother of his son. He expressed a desire to avoid enmity, noting that he would never turn his back on someone he once cared for, and firmly declared his willingness to protect her from harm at all costs.....KINDLY READ THE FULL STORY HERE▶
In a candid conversation with Chude Jideonwu, Kunle Abounce Fawole reflected on his past marriage to Yvonne Jegede. When asked about his current feelings, the actor clarified that while the romantic spark is gone, his protective instincts remain strong. Fawole shared that he prefers to take the blame for past relationship struggles to avoid bitterness, stating that he refuses to harbor grudges. Ultimately, he underscored his commitment to her safety, asserting that he would go to extreme lengths—even potentially resorting to violence—to defend the mother of his child.
Option 3: Short & Punchy
Kunle Abounce Fawole has made it clear that while his romantic chapter with ex-wife Yvonne Jegede is closed, his dedication to her protection is unwavering. During a recent interview, the actor revealed he has no room for bitterness toward past partners. Though he no longer loves her romantically, he stressed that his status as the father of her son drives him to act as her fiercest defender, even going so far as to say he would “kill” for her if she were ever threatened.
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