President Bola Ahmed Tinubu’s recent directive to reduce food prices has stirred mixed reactions among farmers and traders across Nigeria. While the move is aimed at easing the burden on ordinary Nigerians, those in the food business fear it could leave them counting heavy losses.

In Kano, Malam Abba Sani, a local farmer, expressed concern that the policy might cripple farmers financially.

“We bought our seeds and fertilisers at very high prices. How are we supposed to recover our money now?” he asked.

Sani stressed that while cheaper food may bring relief to consumers, many farmers could “suffocate under the new price regime.”

Traders share similar concerns. Speaking to DAILY POST, Bashir Madara, Public Relations Officer of the Singer Market in Kano, explained that those with old stock will be the hardest hit by sudden price cuts.

“Every good Nigerian with a heart that wants to see the poor enjoy some peace will welcome the President’s order. But for traders with stock already purchased at high prices, it will definitely lead to losses,” he said.

Madara, however, noted that many traders have already adapted by keeping fewer goods in storage to avoid big losses. Instead, they now stock only what they can sell quickly, in anticipation of fluctuating prices.

He advised fellow traders to sell off existing goods before the price cut policy fully takes effect and appealed to the government to consider the challenges of traders while trying to ease the suffering of ordinary Nigerians.

Despite these concerns, Madara admitted that the initiative could still be a “win for the common man,” since lower prices would help families struggling with the rising cost of living.