Despite a recent decline in food inflation across Nigeria, many residents of the Federal Capital Territory (FCT) continue to struggle with low purchasing power, making it difficult to buy staple food items.

Residents who spoke with the News Agency of Nigeria (NAN) attributed the challenge to limited income.

“Although some food items have slightly reduced in price, the difference is not yet significant due to low earnings,” they said. According to the National Bureau of Statistics (NBS), Nigeria’s annual food inflation rate dropped to 16.87 percent in September 2025, down from 21.87 percent in August, largely due to seasonal harvests of grains such as maize and millet.

At local markets, the reduction is evident: a bag of local rice dropped from N75,000 to N57,000, foreign rice from N90,000–N100,000 to N70,000, while a dustbin basket of pepper fell to N2,000–N2,300.

Despite this, many households reported that the lower prices have not translated into affordability. Civil servant John Okeke said, “If food prices have dropped, are they really affordable to the common man?

After paying rent, school fees, transport, and other expenses, little is left for household needs.”

Meanwhile, Minister of State for Agriculture and Food Security, Aliyu Sabi, attributed the price decline to improved local production and government intervention programs, including the National Agricultural Growth Scheme (NAGS) Agro-Pocket Programme, which injected over 500,000 metric tonnes of wheat, maize, cassava, and other crops into the market.

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Former presidential candidate of the Labour Party, Mr. Peter Obi, has strongly criticized the demolition of shops and private properties by government authorities across various parts of the country, describing the actions as “unjustifiable,” “inhumane,” and emblematic of a governance approach that lacks empathy in a time of deepening economic hardship.

In a statement issued Monday via his verified X (formerly Twitter) account, the former Anambra State governor condemned what he termed the “willful destruction” of citizens’ livelihoods without due notice or adherence to legal process. Obi warned that such actions not only violate the rights of affected individuals but also threaten Nigeria’s broader economic and social stability.

“The recent demolition of citizens’ structures and the destruction of their goods and merchandise remain condemnable,” he stated. “At a time when the government is supposed to be lifting citizens out of poverty, it is instead plunging them deeper into hardship.”

Obi noted that many of the demolished shops and buildings housed merchandise and assets worth billions of naira, representing years of toil, entrepreneurship, and life savings for countless Nigerians. He questioned the rationale behind such demolitions, asking whether they serve any genuine public interest or merely reflect “arbitrary and disproportionate exercises of power.”

Without mincing words, Obi placed responsibility on the current administration’s leadership approach, arguing that within just 29 months, the government has exacerbated poverty and insecurity, instead of alleviating them. “These demolitions destroy livelihoods, undermine businesses, and threaten the economic security of hardworking citizens,” he said.

He urged government officials at all levels to adopt policies guided by empathy, rule of law, and long-term economic thinking, rather than reactive enforcement actions that displace vulnerable populations. “Every citizen has the right to build a life through honest work, and that right must never be trampled,” he wrote.

Obi further cautioned that such actions send damaging signals to both local and international investors, who may perceive Nigeria as an unpredictable environment where property rights are not guaranteed. “If we fail to stand against such injustices, we risk undermining the very foundations of economic growth and social stability,” he concluded.

The remarks come amid growing public outcry over widespread demolitions in major cities, often linked to urban renewal or land disputes, but which critics argue are carried out without transparency, adequate compensation, or proper legal procedures.

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During the inauguration of Sen. Monday Okpebholo and Dennis Idahosa as the new Governor and Deputy Governor of Edo State, Vice President Kashim Shettima represented Tinubu, emphasizing that the event was a significant stride forward for the state. Tinubu’s words echoed optimism: “

This atmosphere of joy and hope resonates with the voice of the people,” he stated. “We have weathered the hardest days as a nation. We have pulled back from the brink of economic collapse, and now we step forward into a time of growth.”

The President reflected on the steep economic difficulties his administration encountered upon taking office and underlined the necessity of rapid reforms to stabilize the country’s economy.

Securing the future of our economy demanded serious reform to stave off threats to the stability of this great nation,” Tinubu said, pointing out the importance of bold leadership in facing inherited issues head-on.

Tinubu’s call for unity and healing extended beyond national challenges to local politics in Edo State. He urged leaders to work beyond party lines and prioritize the well-being of all citizens. “

An honest leader is quick to see the legacy of problems they inherit,” he noted. “But what defines such a leader is the courage to confront them.”

Governor Okpebholo, in his acceptance speech, expressed deep appreciation to the people of Edo State for their trust and pledged his administration’s dedication to rapid progress and economic improvement.

He revealed a five-point agenda focusing on key areas: healthcare, security, education, economic growth, and infrastructure development. “Edo shall rise again,” Okpebholo vowed, promising to rehabilitate roads, increase electricity access, and empower small businesses.

Addressing youth unemployment was also highlighted as a priority, with commitments to introduce programs that foster job creation and offer soft loans to market women to boost economic activity. Okpebholo’s plan emphasized inclusive progress that would cater to both urban and rural communities, ensuring that no one is left behind in the state’s developmental trajectory.

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In its latest report, Staying the Course: Progress Amid Pressing Challenges, the World Bank underscored the importance of addressing the hardships facing citizens by expanding employment, especially for young people. Ndiame Diop, the World Bank’s Country Director for Nigeria, praised the government’s willingness to undertake difficult reforms but emphasized the urgent need for job opportunities to prevent further social and economic instability. Diop noted that if such reforms had not been implemented, Nigeria would have faced a severe fiscal crisis, further threatening the government’s ability to meet its commitments to the public. However, he highlighted that expanding youth employment is crucial to help citizens cope with decreased purchasing power and rising costs.

The World Bank also called on the Central Bank of Nigeria (CBN) to shift its approach to foreign exchange management. Recently, CBN carried out an $876.26 million retail Dutch auction to stabilize the naira, aiming to enhance liquidity and ease pressure on the FX market. Yet, the World Bank recommended that the CBN refrain from ad-hoc auctions and move towards a unified, transparent exchange rate system, allowing for greater market flexibility and consistency.

Such an approach, according to the report, could strengthen Nigeria’s FX market by encouraging formal remittance flows and centralizing foreign exchange transactions. By focusing on employment for young Nigerians and adopting a stable FX strategy, the World Bank believes Nigeria can better support its citizens through economic recovery and foster long-term stability.

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The decision comes after mounting pressure from religious leaders, opposition parties, and citizens demanding government action to address the country’s deteriorating economic situation.

A statement issued by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale, confirmed that the broadcast would be aired on the network services of the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN). The address will be repeated at 3:00 pm and 7:00 pm.

Prominent religious leaders, including the Sultan of Sokoto, Alhaji Muhammad Sa’adu Abubakar III, and the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, had earlier called on President Tinubu to address citizens before the nationwide protests deteriorated further.

The protests, which began on Thursday, August 1, have led to incidents of violence and unrest across several states, including Kaduna, Nasarawa, Kano, and Abuja. Reports indicate that over 15 people have been killed, with dozens injured and arrested as security forces clashed with demonstrators.

READ ALSO: Tinubu Inaugurates Economic Team, Enlists Dangote, Elumelu, Rewane

The Coalition of United Political Parties (CUPP) criticized President Tinubu’s leadership, describing it as “woeful” for his failure to address the nation earlier. The opposition group blamed the current crisis on the President’s “sidon-look” and “I-don’t-care” attitude towards the people’s grievances.

Similarly, the Peoples Democratic Party (PDP) expressed concerns over the President’s silence, stating that it sends a “dangerous signal” and heightens public apprehension. The PDP called on Tinubu to take immediate steps to reduce the price of petroleum products, stabilize the Naira, and ensure food security.

READ ALSO; NNPC to Sell Crude Oil to Dangote Refinery in Naira, Says Tinubu

The nation waits with bated breath for President Tinubu’s address, hoping for solutions to the pressing economic issues that have sparked widespread unrest.

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