• Food Prices
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USAID’S AID SUSPENSION LEADS TO UNEXPECTED DROP IN NIGERIA’S FOOD PRICES

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  CapitalTimesNews / 7 hours
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• 2 min read

The suspension of aid by USAID under President Donald Trump has led to a significant reduction in food prices in Nigeria, leaving many to wonder what really changed. Despite the government’s implementation of various agricultural policies, including grants, loans, and subsidized machinery, fertilizers, and chemicals, food prices remained high until USAID’s aid was suspended. It has now come to light that foreign aid organizations like USAID were not just buying food for humanitarian purposes, but were also hoarding large amounts of farm produce, allowing them to spoil, and creating artificial scarcity to drive up prices and worsen hunger. This revelation has sparked outrage, with many accusing USAID of using its financial power to control the market and starve the population. The alarm was first raised by U.S. Congressman Chris Smith, who accused USAID of indirectly funding terrorist groups in Nigeria, particularly Boko Haram. This claim echoes concerns previously voiced by President Trump, who has long criticized how U.S. foreign aid is misused. Traders in the agrarian communities of northern Nigeria, particularly in the beans markets of Maiduguri, have reported a drastic drop in prices. Within just two months, the price of beans has dropped from ₦65,000–₦70,000 per bag to around ₦23,000–₦27,000. These figures are verifiable, and many are hailing the development as a major victory for Nigeria’s agricultural sector. As one trader noted, “The only logical conclusion is that without USAID hoarding food supplies and causing artificial scarcity, the market is stabilizing on its own.” This sentiment is echoed by many, who believe that Nigeria is better off without USAID’s aid. In fact, some are arguing that the country may finally break free from economic exploitation and develop a truly independent agricultural sector. As Ola Ajao-Akala noted, “Let the U.S. keep its aid money and invest it in its own economy. Nigeria is better off without it.”