Food prices have significantly dropped in the Northeast geopolitical zone of Nigeria as farmers flood markets with grains ahead of the Ramadan fast.
The region, which has faced years of insurgency, recorded a bumper harvest in states like Taraba, Borno, Adamawa, and Yobe. Various crops such as onions, peppers, maize, rice, yam, Irish potatoes, beans, cassava, melon seed, millet, and carrots have been harvested in abundance.
Investigations revealed that several factors contributed to the drop in food prices, including a lack of cash circulation. Middlemen have been making bulk purchases from markets across the region as both traders and farmers seek to sell their produce in preparation for Ramadan.
Farmers received substantial support from state governments, particularly Borno State Governor Babagana Zulum, who provided free transportation, security through the agro-ranger special squad, farm inputs, and access to farmlands. Similarly, Yobe State Governor Mai Mala Buni invested in farming by providing farm inputs and tractors to support agricultural activities.
According to Abdulmumini Gulani, a socialist, the decline in food prices is a positive step in reducing economic hardship. He noted that in Yobe State, food prices have dropped by nearly 30%, affecting items like beans, sorghum, millet, and maize. Prices of perishable foods such as peppers and onions have also decreased.
He attributed the fluctuations to economic conditions, seasonal changes, local production, and global market trends. He also commended the efforts of President Bola Ahmed Tinubu’s administration in making life more affordable and suggested the government consider reviewing the removal of fuel subsidies.
Market surveys in Potiskum, Yobe State, showed a bag of millet selling at ₦60,000, down from ₦80,000, while a 50kg bag of white beans now costs ₦55,000. A 100kg bag of white beans dropped to ₦87,000, and red beans, which previously sold for ₦120,000, are now ₦90,000. Similarly, groundnut prices have decreased from ₦210,000 last year to ₦130,000.
In Damboa town, a farmer, Ali Baba, reported that the price of a 100kg bag of maize fell from ₦54,000 to ₦40,000, soybeans from ₦40,000 to ₦32,000, and sorghum from ₦50,000 to ₦41,000. The price of a mudu of locally processed rice dropped from ₦3,600 to ₦1,300, while white beans now cost ₦1,100, down from ₦1,700. Some traders have expressed concerns that the price of grains may continue to fall, prompting farmers to offload their stock in the market before further depreciation.
Abubakar Kois, a trader in Maiduguri, explained that the absence of middlemen, who previously dominated bulk purchases, has also contributed to the decline in prices. He noted that traders are now buying directly from farmers in local markets, which has helped reduce costs. He predicted that food prices could fall even further in the coming weeks as Ramadan approaches.
In Maiduguri, particularly in Molai on the outskirts of the city, the price of a 50kg bag of maize dropped from ₦52,000 to ₦45,000, while guinea corn fell from ₦58,000 to ₦50,000. Residents attributed the reduction in prices to last year’s bumper harvest, which has led to an oversupply of grains in the markets.
However, in Adamawa State, prices of food items remain unstable.
While the cost of some staple foods like maize, rice, guinea corn, and beans has decreased, others have remained high. Traders believe that limited cash flow has forced many hoarders to release their stored grains for sale.
A trader known as “Yellow” revealed that he had invested ₦10 million in grains but has been unable to sell at a profitable price. He is now waiting for a possible price increase before selling.
In October and November 2024, a bag of maize was sold for ₦60,000 to ₦65,000, but it has now dropped to ₦50,000 or ₦53,000.
Those who stored grains in 2023 made significant profits last year, but the situation is different now. In the Ganye Yam Market, a major trading hub in Adamawa, the price of 100 tubers of yam has skyrocketed from ₦70,000–₦80,000 to about ₦200,000. Small tubers now cost between ₦1,000 and ₦2,000, depending on size.
Adamawa State also has some of Nigeria’s largest cattle markets, including Ngurore, Mubi, Cigari, and Ganye, which attract buyers from within and outside the country. Three years ago, a cow was sold for ₦300,000 to ₦400,000, but prices have now risen to between ₦700,000
