By Onyeje Abutu-Joel
Consumers in Benue are rejoicing over the sharp drop in prices of most foodstuffs in the markets.
A cross-section of consumers who spoke with the News Agency of Nigeria (NAN), on Sunday in Makurdi, said that prices of most foodstuffs, especially grains, had dropped significantly.
Mrs Victoria Ogwuche told NAN that she could now buy a mudu of beans at the rate of N1,500 as against N2,300 in 2024.
Ogwuche also said she could now purchase a half tin of rice (half of 25 kg bag) for N12,000 as against N19, 000 that it was sold for in 2024.
Another consumer, Mrs Member Nyor, told NAN that it was difficult to prepare kunu (a local drink) and drink in 2024 but she could now buy a mudu of guinea corn for N300 as against N800 that it was sold in 2024 and early 2025.
However, while consumers are rejoicing over the crash in foodstuff, traders are lamenting over the losses they had incurred in the process of buying and hoarding.
Mrs Onyemowo Ejeh lamented that she bought some 50 kg bags of beans at the rate of N120,000 each in December 2024 only for the price to fall to N85,000 each in 2025.
Ejeh also said she bought some 50kg bags of maize at the rate of N85,000 each in January this year, only to now sell them at N45,000.
“I also bought medium sized (50kg) bags of Bambara nuts at the rate of N185,000 in January this year, and now they are pricing a bag for N90,000.
“I have not been able to sell the Bambara nuts because the loss of N95,000 on each bag is too much to bear,” Ejeh lamented.
Similarly, Joseph Okoh told NAN that he bought some 50kg bags of guinea corn at the rate of N70,000 each in January, but they are now being priced at N45,000 each.
Okoh said he wished to sell even at the low price, but buyers were scarce now because of the excess commodity in the markets.
According to him, the hoarders are now doing panic sales as they do not want to lose everything.
He said that many farmers were also sad about the drop in prices of food stuff, saying that they purchased farm inputs at very exhorbitant prices and could not recoup their investments from their harvests.
Mr Jacob Idoko, an economist, told NAN that the government could only sustain the current prices of foodstuff if they subsidised prices of farm inputs for farmers.
“If the government wants to sustain the present prices of foodstuff, it must subsidise farm inputs for farmers.
“If not, no farmer will go back to the farm anymore and if they do not go back to farm, I assure you that prices of food items will go higher than they did in 2024,” Idoko said. (NAN)(www.nannews.ng)
Edited by Nyisom Fiyigon Dore
