Food prices have significantly dropped as farmers bring large quantities of grains and other produce to the markets ahead of Ramadan.
This price reduction follows a bumper harvest across states like Borno, Yobe, Taraba, and Adamawa, despite years of insurgency in the region.
Key Price Drops:
Millet: Now ₦60,000 per bag, down from ₦80,000.
Brown Beans: Now ₦90,000 per bag, down from ₦120,000.
Groundnuts: Now ₦130,000 per bag, down from ₦210,000 last year.
Factors Behind the Price Drop
Investigation revealed that several factors contributed to the lower food prices:
Bumper Harvest: Increased agricultural output led to surplus produce in the markets.
Low Cash Circulation: Many farmers and traders are eager to sell their crops due to economic constraints.
Absence of Middlemen: More direct sales between farmers and consumers have helped stabilize prices.
Government Support: State governments, particularly Borno and Yobe, have provided assistance such as free transport, farm inputs, and security for farmers.
Government Initiatives Boost Agriculture
Governor Babagana Zulum of Borno State has supported farmers with free transportation, farm security, and better access to farmlands.
Similarly, Governor Mai Mala Buni of Yobe State has invested in farm inputs and tractors to boost productivity.
Economist Abdulmumini Gulani noted that food prices in Yobe have fallen by almost 30%, with items like maize, millet, sorghum, onions, and pepper seeing significant price drops.
He also credited federal government policies, including support for local food production, as factors contributing to the price reduction.
Market Trends in the Northeast
Potiskum (Yobe State):
White Beans (100kg) now ₦87,000, down from ₦100,000.
Red Beans (100kg) now ₦90,000, down from ₦120,000.
Peanuts now ₦130,000, down from ₦210,000 last year.
Damboa (Borno State):
Maize (100kg) dropped from ₦54,000 to ₦40,000.
Sorghum fell from ₦50,000 to ₦41,000.
Locally processed rice (mudu) now ₦1,300, down from ₦3,600.
Traders in Maiduguri Market said that the reduction in middlemen’s involvement has also contributed to the price drop.
One trader, Abubakar Kois, noted that more retailers are now buying directly from farmers, further lowering costs.
Price Instability in Adamawa
In Adamawa State, while some food prices have dropped, others remain unstable due to bulk purchases by traders looking to resell later at higher prices.
Maize: Prices fell from ₦65,000 to ₦50,000 per bag.
Yams: 100 tubers now cost ₦200,000, up from ₦80,000 last year.
Some traders, like “Yellow” in Yola, have chosen to hold onto their stock, waiting for prices to rise again.
Rising Demand in Taraba State
In Jalingo, Taraba State, food prices are dropping, leading to a surge in demand:
Millet: Now ₦60,000 per bag, down from ₦75,000.
Beans: Now ₦120,000 per bag, down from ₦150,000.
Sorghum: Now ₦45,000 per bag, down from ₦65,000.
Onions: Now ₦70,000 per bag, down from ₦220,000.
Challenges Ahead: High Fertilizer Costs
Despite the food price drop, farmers are struggling with rising fertilizer prices ahead of the rainy season:
Some brands have increased from ₦20,000 to ₦25,000.
Others now cost between ₦50,000 and ₦52,000 per bag.
Mallam Hassan Wakili, a former chairman of the Rice Association in Zabrmari, urged the government to subsidize farm inputs to support farmers.
While the price drop is a relief for many households, experts warn that prices could rise again if middlemen resume bulk purchases.
