President Bola Ahmed Tinubu has claimed that food prices in Nigeria are on a downward trend, offering relief to Muslims fasting during Ramadan. His remarks, however, come at a time of widespread economic hardship, with soaring inflation and a weakening naira putting pressure on household incomes.
Despite growing public frustration over the rising cost of living, Tinubu defended his administration’s economic policies, including the removal of fuel subsidies and the devaluation of the naira. He argued that these measures were beginning to yield positive results, pointing to an improvement in Nigeria’s Gross Domestic Product (GDP).
“The once-soaring prices of essential food items are now trending downward, providing much-needed relief to our fasting population and all Nigerians,” Tinubu stated in his Ramadan message. He urged Muslims to embrace self-discipline and generosity during the holy month while assuring Nigerians that his government was working to ensure food security.
The president also highlighted ongoing efforts to boost agricultural productivity, particularly as the wet season approaches. He reiterated his administration’s commitment to supporting farmers and increasing food supply to stabilize market prices.
However, many Nigerians have challenged Tinubu’s claims, arguing that the reality on the ground does not reflect a drop in food prices. Staple foods such as rice, garri, and beans remain expensive, with many families struggling to afford basic meals. The continued depreciation of the naira has worsened inflation, further straining household budgets.
Economic analysts also remain skeptical about the effectiveness of Tinubu’s policies, warning that any potential relief may take time to materialize. “The government needs to address structural issues in agriculture and food distribution if it truly wants to see sustained price reductions,” a Lagos-based economist noted.
