Nigerians Await Promised Relief from High Food Prices Amid Rising Inflation

Six months after the Nigerian government pledged to address soaring food prices, citizens are yet to see significant relief, sparking concerns about the effectiveness of the announced measures.

In July 2024, Abubakar Kyari, the Minister of Agriculture and Food Security, unveiled “strategic measures” to curb food inflation. Among these were a 150-day duty-free import window and the suspension of duties, tariffs, and taxes on specific food commodities like maize, husked brown rice, wheat, and cowpea.

“Our administration has unveiled a series of strategic measures aimed at addressing the high food prices currently affecting our nation,” Kyari stated on his verified X handle. The measures were to be implemented over 180 days, ending on January 7, 2024.

However, food inflation has remained stubbornly high. According to the National Bureau of Statistics (NBS), Nigeria's food inflation rate rose from 40.66% in May to 40.87% in June 2024, driven by price hikes in staples like yam, garri, and grains. By November 2024, food inflation had reached 39.93%, with prices for tobacco, tea, cocoa, coffee, milk, and palm oil showing minor decreases but overall costs remaining elevated.

President Bola Tinubu, in his 2025 New Year’s address, acknowledged the ongoing economic pressures, pledging to reduce inflation from 34.6% to 15% through increased food production and the promotion of local manufacturing. “With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” Tinubu assured Nigerians.

The Centre for the Promotion of Private Enterprise (CPPE) highlighted in its "Nigeria 2024 Economic Review and 2025 Outlook" that inflationary pressures in 2024 significantly impacted living standards, exacerbated poverty, and strained businesses. CPPE noted that while geopolitical stability under Donald Trump’s presidency might ease global energy prices in 2025, key inflation drivers such as high energy costs and transportation expenses could persist.