CurrentRepot Blog Former Kaduna Central Senator, Shehu Sani, has spoken out against what he perceives as deliberate manipulation of food prices in Nigeria. Sani’s remarks, made on Wednesday, shed light on a contentious issue plaguing many Nigerians – the skyrocketing costs of essential food items.
Sani asserts that the recent surge in food prices is not solely a result of natural market forces but rather a calculated effort by unscrupulous individuals to exploit the situation. He suggests that these individuals are capitalizing on inflation to drive up the prices of foodstuffs, thus exacerbating the economic hardship faced by many citizens.
In a statement posted on X, a social platform, Sani pointed to reports indicating fluctuations in food prices across different states. He interprets these fluctuations as evidence of intentional manipulation rather than a reflection of genuine market dynamics. According to Sani, the fact that prices are fluctuating inconsistently suggests foul play at the hands of those seeking to profit from the situation.
The economic strain experienced nationwide has led to a surge in food prices, further burdening already struggling households. Sani identifies hoarding and illegal smuggling as contributing factors to the scarcity and inflated costs of essential food items. Vice President Kashim Shettima recently disclosed the discovery of 32 illegal routes used for smuggling foodstuffs and other goods to neighboring countries from Nigeria. The interception of 45 trucks smuggling maize highlights the scale of this illicit activity.
Shettima’s revelation underscores the impact of such illegal practices on food prices domestically. He notes a significant drop in maize prices following the interception of smuggling trucks, indicating the extent to which illicit activities can influence market dynamics. The maize price reduction from N60,000 to N50,000 per metric ton serves as a tangible example of how curbing smuggling can alleviate the financial burden on consumers.
