Retailers Are Not Reflecting The Significant Drop In Food Prices – FG

The Federal Government has come out to urge retailers to reflect the reduction in food prices and shun exploiting consumers.

The Minister of Agriculture and Natural Resources, Abubakar Kyari recently had his say while speaking to the press, and Nigerians have been reacting.

According to him, the nonchalant attitude of retailers to reflect the reduction in their sales despite a drop in prices is nothing to write home about, and such an action is unpatriotic and unacceptable.

He added that FG is fully aware of the significant drop in the prices of food items across major markets.

His words, “The federal government is aware of the significant drop in the prices of food items across major markets, particularly for essential commodities such as flour, sugar, rice, and pasta.

However, it is deeply concerning that many retailers, bakers, and shop owners have refused to reflect this reduction in their selling prices, thereby denying Nigerians the relief they deserve.

In previous months, stakeholders in the retail value chain raised concerns about the rising cost of food items. Now that the prices have dropped, such as flour, which fell from N81,000 per bag to below N60,000, Spaghetti has fallen from N20,000 to N15,000.

It is only fair and just to let consumers benefit from food price reduction.”

WOW.