Prices of essential commodities, including rice, flour, milk, beans, and spaghetti, have crashed by over 40% in Kano following the Federal Government’s intervention, the Chairman of Singer Market, Junaidu Muhammad Zakari has said.

Speaking to newsmen on Monday, the Chairman explained that the government’s opportunity for importers to bring in essential commodities such as rice, oil, and spaghetti was a major factor in the price drop in Kano.

“There is no gainsaying that credit truly must go to the Federal Government and, indeed, our marketers who adhered to the government’s policy of importing the stipulated essential commodities, making them available and resulting in the over 40% crash in their prices,” he said.

Zakari noted that the removal of duties on about 43 items, along with the subsequent influx of rice sold at N40,000, helped marketers flood the market, which led to a reduction in the home prices of these commodities.

He explained that rice, which was sold at about N120,000, has now crashed to less than N80,000, while spaghetti, which was priced at N20,000, is now selling for between N13,500 and N14,000 in the markets.

“Even flour, which was sold at N90,000, is now selling in the markets for about N70,000 to N65,000, while 50kg oil, which was sold at nearly N100,000, is now priced at N70,000,” he said, adding that flour is now priced under N70,000.

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Zakari, however, noted that sugar prices have refused to come down.

He mentioned that they are in talks with producers like Dangote and BUA, who are the major suppliers of sugar, to address the situation.

The Chairman also accused master bakers of failing to reduce bread prices, despite the significant decrease in flour prices in Kano markets.

“We have engaged the Chairman of the Master Bakers Association, but he told us that they can’t do otherwise because their association represents only 20% of bread sellers, while 80% are not members, so they can’t control them,” he said.

Similarly, some bread sellers earlier alleged that flour companies had reduced the weight of their bags.

However, Singer Market officials denied this, explaining that with the intervention of the Standard Organization and the Consumer Protection Council, companies like Dangote and BUA cannot be behind any reduction in bag weights.

Zakari commended both the Federal and Kano State governments for ensuring that the prices of essential commodities have been greatly reduced, urging them to sustain these efforts to allow Nigerians to continue benefiting from the positive impact.

“The tension among Nigerians is truly beginning to subside, and the fear of hunger and starvation is greatly diminishing.

‘The government should maintain this policy because it is working,” the Chairman emphasized.