03/11/2025
SOUTH-WEST AREWA COMMUNITY FOR ASIWAJU 2027 APPLAUDS TINUBU, SANWO-OLU, AND SOUTH-WEST GOVERNORS AS FOOD PRICES DROP IN MAJOR MARKETS
The South-West Arewa Community for Asiwaju 2027 has applauded President Bola Ahmed Tinubu, GCFR, for the remarkable decline in food prices across major markets in Lagos and other parts of the South-West. The group described the development as a “testament to the Renewed Hope Agenda working in real time to stabilize the economy and restore confidence in governance.”
In a statement issued in Lagos, the group also commended Governor Babajide Olusola Sanwo-Olu, Chairman of the South-West Governors’ Forum, and his counterparts across the zone for complementing the Federal Government’s reforms with people-centred market initiatives that have eased the cost of living for traders and consumers.
Findings from key markets such as Mile 12 International Market, Oyingbo, Ile-Epo, Balogun, Agege, and Abule Egba Markets revealed a significant reduction in the prices of staple foods. A 50kg bag of local rice now sells for about ₦58,000 (down from ₦61,500); a bag of foreign rice costs between ₦78,000 and ₦82,000 (previously ₦95,000); a 60kg bag of garri now ranges between ₦37,500 and ₦40,000 (down from ₦45,000); a 100kg bag of beans costs about ₦145,000 (down from ₦170,000); a big basket of tomatoes now sells for ₦35,000 (down from ₦120,000); and a 25-litre gallon of groundnut oil is now ₦41,000 (from ₦47,000). These price drops coincide with the strengthening of the naira, now trading around ₦1,460–₦1,520 per dollar.
In his remarks, Alhaji Shehu Usman “Sampam”, who serves as the Director-General of the South-West Arewa Community for Asiwaju 2027, Chairman of Mile 12 International Market, and Member of the Lagos State Markets Advisory Council, hailed President Tinubu and Governor Sanwo-Olu for their steadfast commitment to economic recovery and market stabilization.
“The current stability and decline in food prices reflect the positive impact of President Tinubu’s leadership and Governor Sanwo-Olu’s proactive market interventions,” Alhaji Usman said. “We are witnessing the gradual restoration of economic balance and public confidence in our markets.”
He appealed to food vendors, restaurants, and hoteliers to reciprocate this progress by reducing their prices in line with current market realities.
“We appeal to all food vendors, eateries, and hotels to review their menus and prices downward,” he urged. “When food items become cheaper in the market, it should reflect on the dining tables of citizens. We must collectively promote fairness and empathy in business.”
Alhaji Usman further assured that as responsible market leaders, the South-West Arewa Community for Asiwaju 2027 would continue to monitor market trends, upload regular price updates, and alert the government immediately if any artificial scarcity, hoarding, or exploitative pricing is observed.
“As leaders, we owe it to our people to ensure transparency and accountability in market operations,” he added. “We will keep updating the public on price movements and will immediately inform authorities if we observe any loopholes that could reverse these gains.”
The statement reaffirmed the group’s unflinching loyalty to President Tinubu, Governor Sanwo-Olu, and the South-West Governors’ Forum. It pledged continued collaboration with market unions, community leaders, and policymakers to sustain the gains of the Renewed Hope Agenda and ensure inclusive growth across all social classes.
“The Renewed Hope Agenda is producing tangible results,” the DG concluded. “We stand firmly with President Tinubu, Governor Sanwo-Olu, and the South-West Governors’ Forum as partners in progress toward shared prosperity for all Nigerians.”
