The recent directive by President Bola Ahmed Tinubu to reduce food prices across Nigeria has generated mixed reactions among farmers and food traders. While the initiative was announced to bring relief to struggling households, many within the agricultural and trading sectors believe it could create financial challenges for them.

Last week, President Tinubu ordered an immediate crash in food prices as part of his administration’s measures to ease the rising cost of living for ordinary Nigerians. However, those directly involved in farming and food supply argue that the policy may have unintended consequences.

Malam Abba Sani, a farmer based in Kano, expressed his concerns in an interview. According to him, the cost of farming inputs such as seeds and fertilizer has already risen sharply. He questioned how farmers would be able to recover their investments under the new price-slash directive.

“We bought seeds and fertiliser at very high prices. If food prices are forced down, how are we supposed to regain our money?” Sani lamented.

He further explained that although the policy might look attractive to the general public, farmers like him may end up suffocating under the pressure of reduced returns.

In a similar development, Bashir Madara, the Public Relations Officer of Singer Market, one of the largest food markets in northern Nigeria, also shared his perspective in a discussion with LMSINT MEDIA. He acknowledged that Tinubu’s decision comes with good intentions for the poor, but highlighted the potential negative impact on traders with existing stock.

Madara stated:

“Every patriotic Nigerian who truly wants the less privileged to have some relief will appreciate the President’s decision to cut food prices. However, traders who already have stockpiled goods will suffer losses once the new directive is enforced.”

He explained that in the past, many traders bought in bulk to maximize profits, but the current economic climate has forced them to change strategy. According to him, most traders now purchase smaller quantities of goods to sell quickly, reducing the risk of being affected by sudden government price interventions.

“Today, traders carefully monitor market direction. Unlike before when businessmen made bulk purchases, now they prefer stocking what can be sold in a short time, hoping prices might drop further before their next purchase. This approach reduces heavy losses, although some risk remains,” Madara said.

While acknowledging that losses are inevitable, he advised traders to dispose of their old stock promptly before the government’s price reduction order is fully implemented. He also appealed to the government to balance the interests of both traders and the citizens when implementing such economic measures.

Despite his caution, Madara concluded that the order remains beneficial for ordinary Nigerians struggling under inflation. He reiterated that the government should, however, create supportive policies to protect those who supply the markets, ensuring both traders and consumers can thrive.