Food Inflation Declining, According to Nigerian Government Advisor
President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, has expressed optimism that food inflation is on a downward trend. Onanuga attributed the decline to a significant drop in prices of staple food items such as yam, tomatoes, and habanero peppers.
According to a report, a big basket of tomatoes in Ketu market is currently selling for around N55,000 to N60,000, a substantial drop from the average price of N150,000 just a few months ago. Similarly, a large basket of habanero pepper (rodo) is now selling for an average of N25,000, down from N55,000 at the peak of the price surge.
Onanuga made this announcement in a social media post, where he wrote, "Food inflation is coming down as prices of yam, tomatoes decline massively." His statement is in reaction to the recent report highlighting the drop in tomato prices.
The news provides a glimmer of hope for consumers who have been grappling with the rising cost of food, which has been a major concern in recent times. The development is likely to have a positive impact on the livelihoods of many Nigerians.
It remains to be seen if the trend will continue, but for now, Onanuga’s statement suggests that efforts to address food inflation are beginning to bear fruit.
