With the National Bureau of Statistics stating a marginal drop in the headline inflation to 32.2 percent, price of food items also dropped marginally.
Reports from Kaduna stated that there is a significant drop in the price of maize.
The report stated that at Saminaka grain market, in Kaduna State there was a significant drop in price of maize.
The noted that before now, a 100kg bag of maize cost N85,000 to N90,00o. But the price of maize has dropped significantly at Saminaka grain market, in Kaduna State. It now sells between N50, 000 to N55, 000.
A farmer, who identified himself as Harisu Abdullahi Maresu, said he sold 20 bags of new maize at N50,000. This, he said, is to enable him to buy fertilizer and to meet other needs.
Malam Jafaru Iliyasu Mariri, also a farmer, said he sold the old stock for N75,000.
Some grain traders from Kano and Bauchi States at the market; Sabi’u Abdu Idris and Musa Abdullahi, welcomed the development. They noted that the arrival of new maize caused the price crash in the market.
They stated that they bought maize at N85,000 per 100kg bag for the old stock. While the new one went for N60,000 to N50,000.
“Last week when I came to this market, I bought 70 bags of maize. But today I bought 100 bags, because it is easy to find. A month ago, I could not buy 50 bags, because of the high price,” one of the buyers said.
A maize dealer in the grain market, Mallam Maiwada Dauda Dagi said the new maize, depending on how dry it is, was sold between N40,000 and N55,000.
Also in Nyanya Wednesday market in Abuja, there are slight drop in the prices of food items. A measure of garri hitherto sold for N1. 100, now sells between N850 to N900.
Rice, another popular staple food among Nigerians also witnessed a slight drop in price. Depending of the brand of rice, the lowest price for a measure (mudu) sold at N2000. This was against N2700 in the previous weeks.
