Dufil Prima Foods Ltd, the producer of Indomie Instant Noodles, has disclosed that they have decreased the prices of their product; Indomie after a sudden increase a few months back.

According to the company, their decision to drop down their prices is due to the great improvement in the country's economy, and not reduced patronage.

The company's Group Corporate Communications and Event Manager, Mr Temitope Ashiwaju said this in an interview with the News Agency of Nigeria (NAN) on Saturday, April 27, in Lagos.

Ashiwaju said it was important clarify the move made by his company so fake reasons as to why they have adjusted their prices will not spread.

He added that the company earlier increased the prices of the Indomie noodles because it was, like several businesses, affected by economic realities.

He stated: “For a listening company such as ours, we felt at some point in time, against our operational cost to adjust when things started to improve.

“We are not here to rip people’s out. Of course, if you starve people and make the products out of reach, it will also affect us.

“Reduction in prices came when the operational cost started to go down.

“We don’t have a choice than to adjust to realities of times and other indices as they improve because serving people are at the centre of our core value.

“The moment we realised that things started to stabilise, we all hope and pray the economy gets better, as a responsible company, we felt it was time to do a further price reduction.”

Ashiwaju concluded that the company has been operating in the country for more than 20 years, with factories and installations across the country.

A recent market survey conducted by NAN shows that a carton of the smallest Indomie standard pack size was sold for between N10,500 and N11,500.

However, the same size carton is currently sold for between N7,400 and N8,000.

BEB