Abuja Food Prices Surge Amid Rising Fuel Costs

Food prices in Abuja markets have significantly increased as a result of rising fuel costs, which are linked to the ongoing crisis in the Middle East. A market survey conducted by the News Agency of Nigeria revealed that the price of a big basket of tomatoes has jumped from N9,000 to N10,000, reaching highs of N35,000 in February.

Traders across various markets, including Wuse and Utako, reported higher prices for staple food items, while Garki Modern Market showed mixed price movements. Additionally, the cost of sachet water has risen from N300 to N500 due to increased diesel expenses and unreliable electricity supply.

The situation is further exacerbated by rising transport costs, particularly for goods coming from Benu State, which have tripled. Wale Edun, the Minister of Finance, stated that the Federal Government remains committed to exploring alternatives to alleviate the cost of living pressures, despite the rising costs.

The ongoing U.S.-Israel-Iran conflict has pushed crude oil prices above $100, impacting petrol prices in Nigeria.