₦airaland Forum

The Arewa Think Tank (ATT) has said the recent crash in the prices of foodstuff across the country, particularly in Lagos and Abuja indicated that the nation’s economic policies are working.

The chief convener of ATT, Muhammad Alhaji Yakubu, in a chat with our correspondent in Kaduna yesterday said despite the economic policies of the present administration, no one was appreciating President Bola Tinubu, but to continue to criticise him.

He appealed to Nigerians to exercise patience with Tinubu for more positive developments in the country.

He said, “We are still pleading with Nigerians to exercise more patience because they will see more positive developments than what they are seeing now.

“What Nigerians need to know in 2025, for the first time since President Tinubu took office in May 2023, is that Nigeria’s cost-of-living crisis has started to be on the easy side of life.

“When we followed a recent market survey in Lagos, Nigeria’s economic hub, it showed that the prices of key food staples declined in February 2025, easing the financial burden on cash-strapped Nigerians who have endured soaring inflation since the 2020 pandemic.”

He said the market survey indicated that a 50kg bag of foreign parboiled rice now sells for N85,000, down from N120,000 five months ago. Local parboiled rice dropped to N95,000 from N105,000 in three months. The price of a big basket of fresh tomatoes plummeted 70 percent, from N120,000 to N35,000.

“Also, a 4-litre paint container of garri now costs N2,500, down from N3,500 five months ago, while a 60kg bag sells for N37,500. A big tuber of yam now sells for N2,500 in Abuja and Onitsha, compared to N5,500 five months ago. In Port Harcourt and Abuja, N1,000 can now buy six to ten pieces of onion, compared to three or four pieces three months ago,” he said.

The convener averred that the drop in the price of beans, yams and garri was a big relief for low-income earners because it had improved every family’s diet.

TimeManager:
They say anything that goes up in Nigeria doesn't come out but let's me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

Bobloco:
Nigerians will surely commend Tinubu when they see and feel the food prices coming down to levels lower than where Tinubu found them when he took over in May 2023.

Any decrease beyond this is purely lies, falsehood, and undiluted propaganda from the pit of hell

mrvitalis:
Meet rice at 40k drove price to 100k then price reduce to 80k then you said price have crashed and policy is working?

Why not wait till we get back to the initial price first

Na wah ooh watch them call me hater now

zero8zero:
You're a joke, go and study your Economics very well, policies are not magic.

zero8zero:
Very hard for prices to come down in naija, even dick dey come down. It is now that I'm witnessing prices coming down.

helinues:
Should minimum wage also return back to the previous amount?

mrvitalis:
Sure if dollar is returned back to the original price... Minimum wage today is of far less value than 2023 may... If you compare it for highly stable items like usdt usd, gold, silver and the rest

How would u know when you have no basic knowledge of economics

mrvitalis:
Sure if dollar is returned back to the original price... Minimum wage today is of far less value than 2023 may... If you compare it for highly stable items like usdt usd, gold, silver and the rest

How would u know when you have no basic knowledge of economics

mrvitalis:
Sure if dollar is returned back to the original price... Minimum wage today is of far less value than 2023 may... If you compare it for highly stable items like usdt usd, gold, silver and the rest

How would u know when you have no basic knowledge of economics

helinues:
Toh

helinues:
If the minimum wage can not rerun back to N30k, how then do you expect the price of basic goods and services to return back to their normal price before the increment in minimum wage?

Are you sure you know basic knowledge of economics sha?

yoruboid:
What was the original price? People that have no understanding of Economics just keep talking balderdash. The same Naira that as subsidized and even was never available to the industrial sector that needed it?

TimeManager:
If dollar is returned back then minimum wage should be reversed?, Lol. Are you aware that the dollar was way lower in 2011, yet there was a demand for increase in minimum wage which was eventually approved. Foreign exchange does not determine the minimum wage but a change in the basket of goods and services.
Pls, try think well before opening your mouth to talk and besides, I will like you to send me a picture of your mouth, I want to see the shape.



-Kiss the truth!

helinues:
Should minimum wage also return back to the previous amount?

mrvitalis:
Yes because the former minimum wage agreed in 2003 dollars has lost value

mrvitalis:
The value of minimum wage should at least be the same

helinues:
What's the total population of those who are earning minimum wage in Nigeria?

zero8zero:
2011, it was 148 to N1, subsidized tho.

mrvitalis:
Lmaooo what does that have to do with this

Even if you earning 10k or 10 million value of that in 2023 should be value of that now

Are you this slow naturally?

The value of minimum wage should at least be the same

helinues:
If those who are earning minimum wage in Nigeria are not up to 10%. Why should their wages be the factor in determining the price of goods and services?

Your last paragraph, it's only when one is defeated or dont have superior arguments, tantrums are inevitable

mrvitalis:
What was the dollar rate in 2003

And the economy grew over 3 times between 2003 and 2011 ... So that needed to reflect on the minimum wage as improved living standard

We are not even asking for improvement now we just want same standard

helinues:
Should minimum wage also return back to the previous amount?

mrvitalis:
Sure if dollar is returned back to the original price... Minimum wage today is of far less value than 2023 may... If you compare it for highly stable items like usdt usd, gold, silver and the rest

How would u know when you have no basic knowledge of economics

TimeManager:
If dollar is returned back then minimum wage should be reversed?, Lol. Are you aware that the dollar was way lower in 2011, yet there was a demand for increase in minimum wage which was eventually approved. Foreign exchange does not determine the minimum wage but a change in the basket of goods and services.
Pls, try think well before opening your mouth to talk and besides, I will like you to send me a picture of your mouth, I want to see the shape.



-Kiss the truth!

mrvitalis:
Yes because the former minimum wage agreed in 2003 dollars has lost value

zero8zero:
2011, it was 148 to N1, subsidized tho.

helinues:
If those who are earning minimum wage in Nigeria are not up to 10%. Why should their wages be the factor in determining the price of goods and services?

Your last paragraph, it's only when one is defeated or dont have superior arguments, tantrums are inevitable

helinues:
Should minimum wage also return back to the previous amount?

Bobloco:
There is obviously a disconnect between your thought process.

mrvitalis:
Sure if dollar is returned back to the original price... Minimum wage today is of far less value than 2023 may... If you compare it for highly stable items like usdt usd, gold, silver and the rest

How would u know when you have no basic knowledge of economics