FG Announces Sharp Drop In Food Prices Under Tinubu’s Government

FG has announced a sharp drop in food prices under Tinubu’s Government.

 

NewsOnline Nigeria reports that the Nigerian government says its economic policies are reducing the cost of essential goods.

 

Sunday Dare, media adviser to President Bola Tinubu, shared this update on social media.

 

According to Dare, prices of key food items and fuel have gone down.

 

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He reported that fuel now sells for N940 instead of N1,220.

 

Maize dropped from N120,000 to N70,000, while onions fell from N220,000 to N60,000.

 

Rice now costs N90,000 instead of N110,000, and tomatoes dropped from N120,000 to N60,000. Millet also saw a reduction from N95,000 to N70,000.

 

He also noted that the naira is gaining strength, with the exchange rate improving from N1,675 per dollar to N1,540.

 

Dare described the situation at Kasuwan Dawanau, a major grain market in Kano, saying business activities have picked up again.

 

He said, “Tinubunomics continues to impact positively on both the economy and Nigerian citizens. Price inflation of most food stuff is being reversed. Prices of major foodstuffs are dropping. PMS prices are stabilizing.

 

“Kasuwan dawanau in Kano, North West is the biggest international grains market in West Africa. Millet, maize, rice, sorghum, and Ginger.

 

“Situated along 5 major Nigerian borders is back and thriving again,” Dare added.