BUSINESS
FCT Residents Struggle with Low Purchasing Power in spite Drop in Food Prices
In spite of the decline in food inflation across Nigeria, many residents of the Federal Capital Territory (FCT) have decried their inability to purchase staple food items.
The residents, who spoke on Sunday in Abuja attributed the development to low purchasing power and income.
“Although, some food items have slightly reduced in price, the difference is not yet significant enough due to limited income,’’ they said.
According to the data released by the National Bureau of Statistics (NBS), the country’s annual food inflation rate dropped to 16.87 per cent in September 2025, down from 21.
87 per cent in August.The report said that the reduction was largely due to the seasonal harvest of grains such as maize and millet.
At the Apo market, a bag of local rice formerly sold at N75,000 is now N57,000, while a foreign brand which was sold between N90,000 and N100,000 is now N70,000.
A bag of iron beans goes for N108,000, while brown beans cost N118,000, slightly lower than the N135,000 and 145, 000 recorded earlier in the year.
A bag of white garri sold for N65,000, now sells for N60,000, while a 25-litre jerrycan of groundnut oil and red oil cost N75,000 and N77,000 respectively.
A dustbin basket of pepper is sold for between N2,000 and N2,300, while a similar basket of tomatoes ranged from N5,000 to N6,500 as against N7,500 sold in September.
Onions are presently being sold for N90,000 per bag, with a dustbin basket selling for N4,000 to N4,800.
A kilo of frozen chicken remained at N4,800, while beef and goat meat sold for N7,500 per kilogram.
In Orange Market, the survey revealed that prices of some food items increased while others dropped in the past two months.
A dustbin basket of big red Tomato is being sold at N6,000 as against between N5,000 to N7,500 as the price keeps fluctuating.
A dust bin basket of tatashe is being sold at N5,500 as against N3,500 while onions witnessed a slight increase as a dustbin basket is sold at N4,500 as against N3,500 and N4,000.
However, the price of pepper dropped significantly; a dustbin basket is being sold at N1,500 as against N3,000.
Also, the price of Irish Potato dropped significantly. A dustbin basket is sold at N3,700 as against N7,000 to N8,000.
In Wuse market, a dustbin basket of tomatoes sold for N9,000, while onions of the same measure cost N6,500. Beans sold for N2,500 per measure, and a plate of pepper (rodo) was sold at N2,000.
At Lugbe market, a 50kg bag of Big Bull rice that previously sold for N95,000 now costs N55,000, while Optimum rice dropped from N65,000 to N56,000.
Five tubers of yam that previously sold for N15,000 are now sold for about N8,000, while a mudu of beans dropped from N2,500 to N1,800.
In Nyanya market, a basket of onions sold between N3,500 and N4,500 as against N6,000 sold in August while tomatoes went for N3,500 to N5,000, depending on the type.
At Lugbe market, sweet potatoes sold for between N2,500 and N3,000, down from N3,500 to N4,000 last season.
The survey revealed that in spite of the reduction in food prices, many households are struggling to feed and make ends meet due to low per capital income.
John Okeke, a civil servant, said the price reduction had not translated into affordability for the average Nigerian.
“If food prices have dropped, are they affordable to the common man? Has transport been reduced? Has fuel reduced? We must consider all these before claiming that the economy is improving,” he said.
Agnes Edoh, a nurse and mother of three also decried the pressure she faced in maintaining her home due to limited funds.
Edoh, who acknowledged reduction in some staple food prices, appealed to the government to do more and increase workers’ salaries to boost their purchasing power.
“Even with this reduction many people are singing. The money is still not there to purchase these items.
“After paying rent, school fees, transportation and other miscellaneous, you will discover you have little or nothing left for household care.
“The government and other relevant bodies should please come to our rescue and improve the economy further for the good of Nigerians,” she said.
Meanwhile, the Minister of State for Agriculture and Food Security, Aliyu Sabi, attributed the decline in prices to improved local production and government intervention programmes.
He said the administration’s National Agricultural Growth Scheme (NAGS) Agro-Pocket Programme injected more than 500,000 metric tonnes of wheat and similar volumes of maize, cassava, and other crops into the market, which helped moderate food prices.
Nigeria Sugar Coy, Group Partner Taraba Govt on Sugar Project
The National Sugar Development Council (NSDC), and Lee Group are partnering to establish a multi-million-dollar sugar production project in Taraba.
The gesture is part of Nigeria’s drive toward self-sufficiency in sugar production.
The Executive-Secretary of NSDC, Kamar Bakrin, said this in a statement on Sunday.
Bakrin, led a high-powered delegation comprising officials of the Council and representatives of the Lee Group to Jalingo to seek the support and collaboration of Gov. Agbu Kefas for the project’s take-off.
He said the project was part of the Council’s strategic efforts to expand sugar production across the country as well as strengthen Nigeria’s industrial base.
The executive-secretary said that the NSDC was established to regulate and promote the development of the sugar industry.
According to him, the council plays a key role in supporting investors through technical guidance, feasibility studies, land access, and policy coordination.
Bakrin commended Lee Group, describing it as a credible partner with both the financial strength and technical expertise required to execute the project successfully through its subsidiary, GNAAL Sugar.
The Project Director of Lee Group, Lam Wilkins, expressed the group’s readiness to establish a world-class sugar production facility in the state.
Wilkins said that Lee Group had been operating in Nigeria for more than six decades, with notable investments in manufacturing, training, and agriculture.
He said that the Taraba sugar project would become a model of successful public–private collaboration for the country.
Responding, the Taraba governor commended the NSDC and Lee Group for choosing Taraba as an investment destination, assuring them of the state government’s full support for the project’s success.
Kefas described Taraba as “nature’s gift to the nation,” blessed with vast arable land and favourable climatic conditions for large-scale agricultural production.
Kefas identified Kurmi, Lau, and Ibi Local Government Areas as suitable for large-scale sugar cultivation and pledged to provide the necessary land and other logistics to facilitate the project’s take-off.
He also proposed the establishment of a tripartite committee comprising officials of the state government, NSDC, and Lee Group to fast-track implementation processes and monitor progress.
The governor expressed optimism that the collaboration would boost sugar production in the country.
He said it would also create jobs, stimulate industrial growth, and contribute to the Federal Government’s goal of achieving sugar self-sufficiency under the Nigeria Sugar Master Plan.
Agriculture
FG Calls for Stronger Agricultural Value Chains to Boost Food Security
The Federal Government has called for a stronger agricultural value chains, increased agro-industrialisation and improved market access to boost food security in Nigeria.
The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr.
Marcus Ogunbiyi, made the call on Monday in Enugu during the Technical Session of the National Council on Agriculture and Food Security.The theme of the event is “Enhancing Agricultural Value Chains, Agro-Industrialization and Market Access for Economic Growth.”
Ogunbiyi, who doubled as the Chairman of the Technical Session, said that the country must move beyond subsistence farming and embrace a commercially driven agricultural system capable of supporting industries, improving farmers’ incomes and expanding export opportunities.
“Our task goes beyond increasing the volume of food produced.
“We must build an agricultural economy that creates wealth, supports industries, generates decent employment, expands exports, improves rural livelihoods and contributes meaningfully to national economic growth,” he said.
The Permanent Secretary identified inadequate storage and processing facilities, limited access to finance, poor logistics and weak links between farmers and processors as major challenges affecting the competitiveness of agricultural products.
He called for increased investment in agro-processing facilities, rural roads, irrigation, electricity, cold-chain infrastructure and modern technologies to reduce post-harvest losses and promote local value addition.
“Agro-industrialisation is central to the transformation we seek to achieve. It provides the bridge between agriculture and industry.
“It also enables agricultural production to serve as a reliable source of raw materials for manufacturing and other productive sectors of the economy.
“The value of this Council will ultimately be determined by the quality of its resolutions and the extent to which those resolutions are implemented,” Ogunbiyi stated.
He also urged state governments to identify priority commodities, establish clear production and processing targets, attract private-sector investment and strengthen partnerships with research institutions and development partners.
In his remarks, the Enugu State Commissioner for Agriculture and Agro-industrialisation, Patrick Uburu, said that the state government was committed to agro-industrialisation to boost farmers’ income, create jobs and generate wealth.
Uburu, who described the technical sessions as a platform for translating policies into practical solutions, urged delegates to prioritise farmers and agribusiness operators in their deliberations.
He emphasised the need for stronger collaboration among state governments, federal agencies and development partners to address food security challenges, noting that recommendations from the meeting should be measurable and implementable.
The commissioner called for practical policies and investments that would improve farmers’ productivity and expand market access for agricultural produce.
Technical Lead Policy Advisory, GIZ ECOWAS & Nigeria, Dr Abiodun Ihebuzor, advocated for stronger partnerships and increased investment in agricultural value chains to reduce post-harvest losses and improve food security in Nigeria.
Ihebuzor noted that previous engagements at the 46th Council in Calabar and the 47th Council in Kaduna had provided opportunities to advance agricultural development.
He expressed optimism that the current meeting would strengthen collaboration among government institutions, development partners and private-sector operators.
According to him, healthy soils, efficient markets and improved storage systems were essential to sustainable food security.
On her part, Geraldine Onu, Deputy Director, Administration and Supply, Enugu State Ministry of Agriculture and Agro-Industrialisation, disclosed that the State Government had intensified efforts to transform agriculture from subsistence farming to commercial and mechanical farming as part of its economic development agenda.
She noted that investments in irrigation, storage, processing and agricultural infrastructure were aimed at increasing production, attracting private investment, reducing post-harvest losses and improving farmers’ livelihoods.
“In Enugu State, under the visionary leadership of Gov. Peter Mbah, agriculture occupies a strategic position in the state’s economic transformation agenda.
“The initiatives include the 300,000-hectare agricultural land bank, the development of Smart Farm Estates across the 17 Local Government Areas, the 260 Farm Estate Programme and the establishment of a tractor assembly plant,” Onu added.(NAN)
Business News
NELFUND Loan Improves Graduate’s GPA to 3.50
A graduate of the University of Maiduguri, Shianya Ebwaseh, said the Nigerian Education Loan Fund (NELFUND) helped improve her Grade Point Average (GPA) to 3.50 through financial support that enabled her to concentrate on her studies.
Ebwaseh, who graduated from the Department of Zoology, Faculty of Life Sciences, said this in an interview on Monday in Maiduguri.
She said financial difficulties had previously affected her academic performance, as she struggled to meet her daily needs while pursuing her degree.
The graduate said she resorted to selling fried chips and groundnuts on campus to support herself, sometimes missing lectures because of the time and energy required to run the business.
According to her, the introduction of NELFUND’s student loan scheme relieved her financial burden through tuition support and a monthly N20,000 upkeep allowance.
“Before NELFUND, I struggled with my GPA because of financial challenges. I sometimes missed lectures after spending hours frying and packaging chips for sale.
“But when NELFUND came, I stopped the business and concentrated on my studies. My GPA improved to 3.50, which is Second Class Upper,” she said.
Ebwaseh said the financial support also enabled her to attend lectures regularly, purchase learning materials and prepare adequately for tests and examinations without constant worries about money.
She added that her examination scores improved significantly after she began receiving the support, attributing the change to increased concentration and financial stability.
The graduate, who said she accessed the scheme in her third year, described the application process as simple and encouraged other eligible students to apply.
She also said the programme had helped financially disadvantaged students remain in school, particularly those whose parents could not afford tuition fees and upkeep.
Ebwaseh appealed to the Federal Government to sustain the initiative, emphasising that withdrawing the support could expose many students to financial difficulties and possible dropout.
She said the scheme had given beneficiaries an opportunity to pursue their academic ambitions with fewer financial distractions.(NAN)
Business News
FG Seeks Synergy Among Housing Agencies to Boost Housing Delivery
The Minister of Housing and Urban Development, Dr Muttaqha Darma, has called for synergy among government agencies in the housing sector to improve coordination and accelerate housing delivery.
Darma made the call in Abuja on Monday at the stakeholders’ conference on the proposed National Real Estate Regulatory Authority (NRERA).
The conference, themed “One vision, One Ecosystem, One National Housing and Real Estate Plan”, was organised by the Office of the Speaker, House of Representatives, and the House Committee on Housing and Habitat.
The minister said the lack of coordination among government agencies had affected the effective delivery of houses to Nigerians, noting that institutions in the sector operated independently.
“The players within the industry, all of us, operate in silos.
“Federal Housing Authority (FHA) does not even know what the Federal Mortgage Bank of Nigeria (FMBN) is doing. FMBN does not know what the Ministry of Finance Incorporated (MOFI) is doing,” he said.
According to him, the various institutions must work together towards a common goal rather than operate independently.
“Our target is to build houses for Nigerians. We are wasting our time because if we fail, it is us who fail, not the President,” he said.
The minister expressed support for the establishment of NRERA, saying the proposed authority would address the regulatory gaps in the real estate sector.
He said the ministry had reviewed the proposed legislation and recognised its potential to improve the sector.
Darma also disclosed that abandoned housing projects funded by the Federal Mortgage Bank of Nigeria (FMBN) across the country were worth about N38 billion.
He said a survey conducted by the ministry revealed abandoned FMBN-funded housing developments in every state of the federation, including the Federal Capital Territory.
“We realised about N38 billion of contributors’ money, your own money, all the Nigerian workers’ money. N38 billion is wasted,” he said.
He said that the poor management of workers’ contributions could discourage Nigerians from contributing to the National Housing Fund.
The minister urged the committee handling the proposed legislation to ensure that state governments were included in the regulatory framework.
He also called for safeguards to protect homebuyers, tenants, developers and mortgage lenders, including mandatory escrow accounts for buyers and standardised tenancy agreements.
The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said effective regulation was necessary to restore investor confidence in Nigeria’s real estate sector.
Takang said the sector contributed 12.71 per cent to Nigeria’s Gross Domestic Product (GDP) as of June 2026, but remained largely unregulated.
He said the absence of a national licensing system had allowed unqualified individuals to operate as estate agents and developers without adequate accountability.
“Anyone can sell land, anyone can collect off-plan payments, run into tens of billions and get away with it. There are very few countries in the world where these are allowed,” he said.
He called for mandatory licensing of real estate operators and the protection of buyers’ funds through designated project accounts.
“An operator must be licensed with the authorities. No one should be operating in the real estate sector without a licence, no matter which part of the value chain they are involved in,” he said.
He added that buyers’ funds should be kept in protected project accounts and released to developers based on evidence of progress on construction.
Takang said effective regulation would attract domestic and foreign investment, protect citizens and support the Federal Government’s one-trillion-dollar economy target.
He urged the National Assembly to ensure the passage of the proposed legislation, describing it as critical to bringing order and transparency to the real estate sector.


