Joe Igbokwe Blames Nigerian Traders for Soaring Food Prices Despite Economic Interventions

Lagos, Nigeria – Joe Igbokwe, a senior member of the All Progressives Congress (APC) and vocal supporter of President Bola Ahmed Tinubu, has sparked a heated debate after accusing Nigerian traders of deliberately keeping food prices high due to what he called greed and malice.

In a Facebook post on Saturday, the political analyst criticized market players for refusing to reflect the reported drop in commodity prices in actual retail costs across markets.

"Nigerians Are Their Own Worst Enemies" – Igbokwe

Igbokwe argued that although official indicators suggest that inflation is easing in some sectors, traders have refused to adjust their prices, thereby making it difficult for average Nigerians to benefit from government policies.

“Prices of food and commodities are coming down, but Nigerians will not help Nigerians,” he wrote.
“Our greed, our wickedness, and avaricious tendencies have no part two. We are our worst enemies. Nigerians steal what they do not need.”

His remarks have since generated mixed reactions online, with some users agreeing that market hoarding and exploitation are contributing to price instability, while others criticized Igbokwe for deflecting blame from government responsibilities.

Igbokwe’s comments come amid conflicting narratives about Nigeria’s current economic outlook. While the National Bureau of Statistics (NBS) and other agencies report marginal declines in inflation rates, many households say they have yet to experience real-world relief.

Essential commodities like rice, yams, maize, beans, and tomatoes remain out of reach for many families, especially in urban centers, where food inflation continues to pressure household incomes.

Traders React: “Not Just About Greed”

Several market traders interviewed by Infotresting.com pushed back against Igbokwe’s claims, citing rising costs of transportation, insecurity in farming regions, and unstable currency exchange rates as factors driving high prices.

“We’re not hoarding anything,” said a trader in Lagos' Mile 12 Market. “Everything has gone up: diesel, transport, rent even the cost of bags for packaging food. What do they expect?”