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High food prices threaten households’ incomes • More families on the brink

Published

4 years ago

August 29, 2022

Foodstuffs

Rising costs of food prices and essentials are increasingly reducing households’ disposable incomes and pushing more families to the brink of poverty.

Experts said insecurity and high energy prices have further widened the fault lines and limited the ability of the country to bridge its huge food demand with domestic supply. With the global food crisis being fuelled by the Russia-Ukraine escalation, Nigeria’s food insecurity could worsen without urgent measures.

Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, said Nigerians spend 57 per cent of their income on food alone, adding that domestic food prices remain high and the global food price index hit record high last month. He said growing food prices could push an additional six million people into poverty.

“An acute lack of funding and credit, limited access to markets, lack of access to information, low use of mechanisation, transportation and logistics to smallholder farmers are the main challenges facing the agricultural industry,” Rewane said.

The economist explained that flour and diesel, which are the major costs components in the baking of bread, accounts for 70 per cent and 15 per cent of the total costs.

“This is likely to push upwards the price of a loaf of bread from N800 two months ago to N900. In spite of the price surge, wages have remained static or even declined in real terms. Consequently, price resistance of consumers is increasing and many are switching to affordable substitutes. In some cases, as is empirically evident, we have noticed a drop in the quantity of goods demanded. Since price inflation is not a Nigeria-specific phenomenon, there are indications that the price spiral is not likely to be short-lived,” Rewane said.

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He explained that while an increase in interest rate is intended to reduce market liquidity and taper inflationary pressure, Nigeria’s inflation stoking factors appear to be more structural and cost-push.

“Monetary policies are usually less effective in addressing supply-induced inflationary pressure. Hence, inflationary pressures could persist if monetary tightening is not complemented by structural reforms and fiscal policy responses.

“We expect consumer price inflation to remain elevated in the coming months due to the lingering economic shocks from the Russian-Ukraine war. This will be further compounded by currency pressures. While the Naira is expected to appreciate marginally in the short-term as party delegates continue to sell their spoils, it is likely to be short-lived as Nigeria continues to grapple with a drop in dollar inflows,” Rewane said.

Managing Director, Centre for the Promotion of private Enterprise (CPPE) Dr. Muda Yusuf, agreed that the soaring cost of energy had taken a toll on food prices. He explained that with the rising cost of diesel, which has increased by over 500 per cent, the cost of aviation fuel, which has gone up by another 400 per cent and the cost of gas, which has increased by over 100 per cent, food movement and other food logistics had been grossly impacted.

“The cost of transportation has reached unprecedented levels, especially the cost of haulage, because of the escalating cost of diesel. Costs of operation and production have gone up from between 30 and 100 per cent as a result of this and also the exchange rate crisis. So, the final consumers have to bear the brunt, unfortunately,” Yusuf said.

According to him, the worsening insecurity is also a major contributor to the food challenge the country faces. He noted operators in the food chain, especially industrialists, in the agro-allied sector are grappling with challenges of getting raw materials from the crop producing areas.

“It is on record that bandits and terrorists have kept farmers at home and, in some cases, said to be collecting rents from farmers to allow them farm.

“This has continued to negatively impact capacity utilisation, turnover, cost of production and the value delivery to shareholders. Some source raw materials from neighbouring West African countries as they cannot get same here due to the insecurity issues which has prevented farmers to be on their farms,” Yusuf said.

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Chairman, All Farmers Association of Nigeria (AFAN), Lagos State Branch, Otunba Femi Oke, warned that a 100 kg bag price of beans could sell for more than N100,000 from October, if farmers are not allowed to establish vigilante groups to protect their farmland.

He urged the government to confront the impact of the current security crisis on strategic food commodities.

Aside from Boko Haram insurgency crisis, he noted that banditry across farmlands has taken a toll on sector, driving farmers away from cultivating crops and putting a strain on food production.

Oke warned that insecurity was going to drive an acute rise in food prices with the gruesome activities of kidnappers and bandits displacing farming communities and limiting agricultural production. He expressed concerns that banditry threat has caused several farmers to flee the tense states such as Adamawa, Borno and Yobe, deserted their farmlands where beans and other food items are cultivated escaped for safety.

Experts maintained that supply chains for food raw materials imports into Africa continue to be impacted by Russia’s war in Ukraine, so competition for alternative resources among local producers remains high.

Data from the Nigeria Bureau of Statistics (NBS) showed that food prices in the country were 22.02 percent higher in July than same month last year. Items most responsible for this food inflation were bread, cereals, tubers, meat, fish, oil, and fat, the NBS noted.

The price of flour and diesel spiked by 76.7 per cent and 209.37 per cent to N26,500/ bag and N750/ litre respectively between last year and now. Prices of wheat, which is a major input for the production of bread, spaghetti, noodles, macaroni and many others, have risen astronomically. The product, which, last year, sold for between N25, 000 and N26, 000 per 100kg, now goes for as much as N39, 000 to N40, 000, depending on the market.

Accordingly, prices of food products which have wheat as major ingredient particularly bread have soared compared to their prices before the outbreak of the war. For instance, bread has suddenly become luxury, and is fast disappearing from the menu table of most Nigerians due to increase in its prices.

For instance, a medium loaf of bread costs between N600 and 700, up from about N400 to N450. A big loaf of bread that can barely feed a family of three now costs as high as between N800 and N1, 000, depending on the brand. Similarly, macaroni, which sold for about N3, 200 last year, is now sold for N4, 800. Also, from about N2, 900 to N3, 000, last year, noodles now go for N4, 050 to N4, 200.

Further data from www.statista.com showed that food prices in Nigeria increased considerably last April when compared to April last year. It noted that Tomato, groundnut oil, and palm oil prices increased the most. In particular, the price of a kilogram of tomato grew by over 53 percent compared to the previous year, while the price of vegetable oil rose by 46 percent. Among all selected food products, none of the selected foods recorded a decrease in price. In fact, Nigeria, the research firm said, is among the countries with the highest inflation rates in the world and has recorded a fast growing Consumer Price Index (CPI).

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A report conducted primarily by United Nations Food and Agriculture Organisation (FAO) and the World Food Programme (WFP), underlined that food insecurity in parts of Nigeria has reached “catastrophic” levels.

According to the report, 19.5 million Nigerians are “facing high levels of acute food insecurity”, including 1.2 million in an emergency, if humanitarian interventions are not scaled up and sustained. The situation remains worrisome, as over 1.7 million children under five years of age are expected to suffer from acute malnutrition through to August 2022 – a 34 per cent increase compared to the same period in 2021.

A critical highlight in the report showed that high prices of fuel and inputs, coupled with the high likelihood of poor rains in the southern and middle belt regions of the country, weigh on production prospects of the ongoing 2022 main agricultural season, raising concerns about access to food for vulnerable households.

Reflecting the high numbers of food insecurity, the report noted that the situation remains extremely concerning in the conflict-affected areas of northern Nigeria, where insecurity and access challenges are likely to persist.

The FAO and WFP report further identified the “continuing currency weakness, above-average inflation and a growing fiscal deficit in 2022, amid increasing costs of imported foods, including wheat, are likely to add pressure to prices in the outlook period.” It also pointed out that prices of local cereals in early 2022 were up to 25 per cent higher year-on-year and well above the five-year average.

A report by Quartz blames the high rise in food prices in the country on the knock-on effects of previous government policies like the two-year closure of land borders.

FAO and the WFP urged the government to distribute home-gardening inputs to IDPs and host populations to allow for the diversification of diets.

Among other things, the FAO and WFP also recommended that the government support agricultural-based livelihoods activities for the upcoming cassava, rice, maise and millet planting season starting, targeting vulnerable households with access to land for cultivation.

Oke proffered that a guarantee of security for the affected populations would encourage them to return to farm to continue food production.

The Nation

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Explosion kills ISWAP bombmakers, foreign IED experts in Borno

Published

4 hours ago

August 5, 2026

Trends Admin

Explosion kills ISWAP bombmakers, foreign IED experts in Borno

Five suspected members of the Islamic State West Africa Province (ISWAP), including a medical officer and four alleged improvised explosive device (IED) specialists, have reportedly been killed in a premature explosion while assembling explosives in Marte Local Government Area of Borno State.

Security sources said the explosion occurred at Maina Daya village, located between Sabon Tumbu and Jubilaram in the Marte axis, an area within the wider Lake Chad region where ISWAP has maintained a presence.

According to security analyst Zagazola Makama, those killed included an ISWAP medical officer identified as Usman Dan Fulani, two foreign nationals described by the sources as Arab IED technicians, and two suspected bomb-making specialists.

The identities and nationalities of the foreign nationals had not been independently confirmed as of the time of filing this report.

Sources said the suspected ISWAP members were assembling improvised explosive devices when the explosives detonated unexpectedly.

The group was reportedly preparing the devices for possible deployment along strategic military supply routes in Sector 1 of Operation HADIN KAI, raising concerns that the explosives may have been intended for attacks on security forces or vehicles operating in the area.

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The explosion reportedly destroyed the location where the devices were being assembled and prevented the suspected explosives from being deployed.

Security analysts said the deaths of experienced bombmakers could represent a significant setback to ISWAP’s IED network, particularly in the Marte-Monguno axis, where explosive devices have been used to target military patrols, security convoys and major transport routes.

However, analysts also noted that the long-term impact of the incident would depend on the group’s ability to replace the personnel and restore its technical capacity.

The development comes amid sustained military operations aimed at disrupting terrorist networks, destroying logistics facilities and limiting the movement of insurgents across Borno State and other parts of the North-East.

ISWAP has continued to use roadside bombs and other improvised explosive devices as part of its campaign against military formations, security personnel and civilian targets in the Lake Chad region.

Military sources said troops under Operation HADIN KAI had been directed to take advantage of the development by intensifying patrols, intelligence gathering, cordon-and-search operations and targeted offensives across the Monguno, Marte and Gamboru Ngala areas.

The operations are expected to focus on preventing surviving members of the suspected network from regrouping, relocating their activities or rebuilding their IED-manufacturing capacity.

Security forces are also expected to strengthen surveillance along routes that have previously been targeted with explosive devices.

The Nigerian military has continued to carry out intelligence-led air and ground operations against suspected ISWAP camps, logistics hubs and movement corridors across Borno.

While the latest explosion may temporarily disrupt the group’s operations, security analysts said sustained military pressure, improved intelligence gathering and continued collaboration with local communities would be necessary to prevent ISWAP from rebuilding its explosives network.

As of the time of filing this report, the Nigerian military had not issued an official statement confirming the incident, the identities of those killed or the reported involvement of foreign IED technicians.

Explosion kills ISWAP bombmakers, foreign IED experts in Borno

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Alleged Coup Mastermind Suggested Approaching Wike for Funding, Court Documents Show

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4 hours ago

August 5, 2026

Trends Admin

Federal Capital Territory (FCT) Minister, Nyesom Wike

Alleged Coup Mastermind Suggested Approaching Wike for Funding, Court Documents Show

FCT Minister’s name surfaces in alleged 2025 coup conspiracy testimony, yet records confirm he was never contacted or aware of the plan

The name of Federal Capital Territory (FCT) Minister, Nyesom Wike, has surfaced in court documents linked to the alleged plot to overthrow President Bola Tinubu’s administration. However, investigation records indicate there is no evidence that the minister was contacted or that he had any knowledge of the alleged plan. This distinction is crucial as the trial of six defendants continues before the Federal High Court in Abuja over the alleged 2025 coup conspiracy against the Nigerian government.

The emergence of Wike’s name came from the statement of retired naval captain Erasmus Victor, one of the defendants currently standing trial. Victor admitted that he was aware of discussions surrounding the alleged plan but maintained that he repeatedly advised the alleged mastermind, Army Colonel Mohammed Ma’aji, to abandon the idea. His testimony has become a focal point in the proceedings, though investigators have been careful to distinguish between mere mention and actual complicity.

According to investigation records, Victor said Ma’aji approached him because of their long-standing relationship dating back to their time at the Nigerian Defence Academy (NDA). Victor explained that the two had remained in contact after their military careers crossed paths at the academy, where he once served as commanding officer of the Burma Battalion while Ma’aji worked as his adjutant. This existing trust and familiarity reportedly made Victor a natural confidant for the embattled colonel.

Victor told investigators that Ma’aji became deeply frustrated after he failed to secure a promotion around 2023. He said he reached out to encourage the officer and urged him to focus on retirement instead of allowing the disappointment to consume him. “He was very devastated,” Victor reportedly said. According to Victor, Ma’aji rejected the advice and instead declared that he was prepared to do “anything necessary,” even if it cost him his life. Victor said he interpreted the comment as a sign that the officer intended to pursue an unconstitutional takeover of government and claimed he consistently discouraged him from doing so.

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The retired naval officer also disclosed that Ma’aji later began searching for wealthy individuals who could allegedly provide financial backing for the operation. Victor said several influential Nigerians were mentioned during their discussions, and among them was the Minister of the Federal Capital Territory, Nyesom Wike. Explaining why his name came up, Victor said he had previously served as chairman of Ogu/Bolo Local Government Area in Rivers State during Wike’s tenure as governor. “I have been a local government chairman for Ogu/Bolo LGA under Nyesom Wike, and I left office in 2021,” he stated. “He suggested I bring Nyesom Wike into the plan in order to seek funds from him.”

Victor insisted that despite the request, he never approached Wike or any other individual for financial assistance. He said he only informed Ma’aji that his efforts to secure sponsors had failed. He further stated, “I was not under compulsion to tell Col Ma’aji I was going to get him sponsors.” This admission is critical because the investigation records reportedly do not suggest that Wike was aware of the alleged plot or took part in any discussion connected to it. The absence of any evidence linking the FCT Minister to the conspiracy has been a recurring theme in official briefings on the matter.

Security agencies launched investigations after the alleged conspiracy was uncovered in September 2025. Prosecutors alleged that the suspects planned to assassinate President Bola Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, service chiefs and other senior government officials before taking over power. Investigators further alleged that different roles had been assigned to members of the group, including military operations, logistics, recruitment of financiers, intelligence gathering, propaganda and spiritual consultations. The scale and audacity of the alleged plot have drawn significant public attention, with many Nigerians closely following the court proceedings.

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Victor is standing trial alongside serving and retired military officers accused of participating in the alleged conspiracy. In his statement, the retired naval officer said he eventually began to doubt whether Ma’aji genuinely intended to stage a coup. “I suspected it was 419,” Victor reportedly told investigators. He explained that he wondered whether the officer was simply trying to obtain money from wealthy individuals under the guise of planning a takeover, arguing that anyone who voluntarily funded an illegal operation would likely be unwilling to report the matter to security agencies if the money disappeared. This skepticism, he claimed, was part of the reason he never took active steps to support the plan.

The investigation also revealed that Victor admitted communicating with Ma’aji through Zangi, an encrypted messaging application. According to him, the platform was recommended because it offered more secure communication than regular phone calls. He said he only downloaded the application to communicate with Ma’aji and another defendant, Lieutenant Colonel Shamsuddeen Bappah. Investigators alleged that Bappah received ₦5 million on September 27, 2025, from funds linked to the alleged operation, though Victor denied taking part in any financial arrangement. The use of encrypted communication has been a point of interest for investigators, who are working to piece together the full extent of communications among the alleged conspirators.

The retired naval officer also acknowledged discussions about possible appointments if the alleged coup had succeeded. According to his statement, Ma’aji once asked him what position he would like in the proposed administration. Victor claimed he jokingly reminded the colonel that he had earlier promised to make him Chief of Staff to the President, but the officer instead replied that he would appoint him as a minister. Victor insisted the conversation was never serious and should not be interpreted as support for the alleged conspiracy, framing it as casual banter rather than a genuine planning session.

He further disclosed that Ma’aji estimated the operation would require about ₦2 billion to execute. Victor said he warned that such a plan would be difficult to execute because of modern surveillance systems and communication technology, adding that those realities convinced him the operation would fail. This practical assessment, he claimed, was part of his ongoing effort to discourage the colonel from pursuing what he saw as a doomed enterprise. Although he admitted forwarding some revolutionary-themed social media materials to Ma’aji through WhatsApp, Victor maintained that he consistently advised against the alleged plot and denied participating in any effort to overthrow the government. He also admitted he never reported the alleged plan to security agencies despite knowing about it, claiming he attempted to reach the then-Rivers State Sole Administrator but was unable to get through.

The trial is expected to continue as the Federal High Court considers evidence presented by the prosecution and the responses of the defendants. The defendants have pleaded not guilty to all charges, and legal experts anticipate a lengthy judicial process given the gravity of the allegations. As the proceedings unfold, the distinction between names mentioned in testimony and individuals with actual involvement will remain a critical factor in determining the outcome of the case.

Alleged Coup Mastermind Suggested Approaching Wike for Funding, Court Documents Show

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Adeleke challenges EFCC over freezing of Osun government account

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5 hours ago

August 5, 2026

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Osun State Governor, Ademola Adeleke

Adeleke challenges EFCC over freezing of Osun government account

Osun State Governor, Ademola Adeleke, has demanded an explanation from the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, over the freezing of an account belonging to the Osun State Government.

Adeleke, who spoke with journalists at the Government House in Osogbo on Wednesday, described the action as unlawful and warned that it could disrupt government activities and affect the delivery of essential public services across the state.

The governor said the state government received a letter from its bank indicating that the EFCC had directed the financial institution to place a restriction on the government account.

According to Adeleke, the action was taken without a court order, adding that the state government would challenge the decision through legal means. (TheCable)

“We are supposed to be in a democracy where the rule of law must always prevail,” the governor said.

Adeleke argued that federal agencies must operate within constitutional and legal boundaries, insisting that the rights and powers of state governments should be respected.

He called on Olukoyede to publicly explain the reason for the account restriction and provide evidence to support the action.

“All I ask is for the EFCC chairman to explain to the good people of Osun State and Nigerians in general why he froze the Osun State Government account and show proof to support whatever reason he presents,” Adeleke said.

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The governor alleged that the development was part of a wider effort to intimidate his administration ahead of the August 15, 2026 Osun governorship election.

He also accused former Osun State governor, Gboyega Oyetola, of being behind what he described as political attacks against his administration. The allegation was not independently established in the reports reviewed.

Adeleke maintained that his government would not accept actions it considered unconstitutional or politically motivated.

He subsequently directed the state Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, SAN, to institute legal action against the EFCC at the Federal High Court in Osogbo. (Vanguard News)

Jimi-Bada said the state government received a “Post No Debit” communication linked to the EFCC’s directive to the bank where the affected government account is domiciled.

The Attorney-General said the state government was prepared to challenge the restriction, arguing that while the anti-graft agency has the power to investigate financial transactions, it must act within the limits of the law.

He said the restriction could affect the day-to-day operations of the state government but expressed confidence that the matter would be resolved through the courts.

Osun State Commissioner for Finance, Sola Ogungbile, also raised concerns about the possible impact of the account restriction on government operations and the welfare of residents.

Ogungbile denied claims that the Adeleke administration was using state funds to finance its re-election campaign and urged the EFCC to consider the potential consequences of restricting access to government funds.

Earlier, Adeleke had raised the alarm over an alleged plan to freeze additional Osun State Government accounts and the accounts of some senior government officials.

In a statement issued through the Commissioner for Information and Public Enlightenment, Kolapo Alimi, the governor alleged that the planned action was intended to paralyse government activities ahead of the governorship election.

Adeleke maintained that there was no legal basis for freezing the state government’s accounts and insisted that the anti-graft agency must follow due process in carrying out its investigations.

The development has heightened political tension in Osun ahead of the governorship election, with the state government insisting that it will seek judicial intervention while demanding a public explanation from the EFCC.

As of the time of filing this report, the EFCC had not publicly released detailed reasons for the account restriction or responded to the allegations made by the Osun State Government.