Finance Minister and Coordinating Minister of the Economy, Wale Edun, says President Bola Tinubu’s economic policies are beginning to yield results, with food prices showing signs of relief.
According to Edun, the price of a 50kg bag of rice has dropped from about ₦120,000 last year to around ₦80,000, while the cost of garri, pepper, tomatoes, and other staples has also declined.
In his latest newsletter, the Minister acknowledged that Nigerians still feel the pinch of inflation but insisted that the government’s targeted measures are starting to ease the pressure.
“We recognise that the economy is ultimately about people, not statistics,” Edun stated. “Millions of Nigerians judge progress by the cost of food, transport, and other necessities.
Food inflation has been our heaviest burden since the removal of fuel subsidies and currency depreciation, but the trend is now turning.”
