Markets in Abuja are witnessing a slight decline in food prices during the first week of Ramadan, bringing relief to residents observing the holy month. Visits to major markets in the Federal Capital Territory (FCT), including Wuse, Garki, and Utako, show that staple foods like rice, beans, onions, and tomatoes have become more affordable compared to previous months.
A 50kg bag of rice, which recently sold for N89,000, now costs between N71,000 and N73,000 following increased food imports. Similarly, the price of a 25kg bag has dropped from N47,000–N50,000 to around N33,000–N37,000. Locally milled rice, which had surged in price in past months, is also becoming more affordable due to improved supply.
While grains such as rice and millet have recorded price reductions, other commodities, including groundnuts, yam, Irish potatoes, palm oil, and vegetable oil, remain costly in some markets.
Market analysts credit the drop in food prices to the federal government’s recent importation policies, which have increased supply and competition, reducing scarcity. The naira’s relative stability has also allowed importers to procure goods at more predictable exchange rates, preventing extreme price fluctuations.
Bosun Alebiosu, a research fellow at the French Institute for Research in Africa (IFRA), linked the price relief to improved security in Northern Nigeria. He noted that when farmer-herder conflicts prevented farming activities, food prices soared, but increased stability has now boosted production and price stability.
Dr. Adam Abudu of the Society for Peace building and Economic Advancement emphasized the role of foreign exchange stability in keeping food import costs down, indirectly benefiting local food prices.
Despite the relief, traders and consumers remain uncertain about whether the trend will continue, as future price movements will depend on sustained government interventions and stable market conditions.
