Nigeria’s Food Prices Decline: A Sign of Relief for Consumers

Nigerians are finding some much-needed relief at the market as the prices of many essential food items have begun to fall. This positive shift is being attributed to the ongoing harvest season, which has increased the supply of key commodities.

A recent market survey conducted in the Mararaba market—located on the outskirts of the FCT in Nasarawa State—revealed significant price reductions across various food categories.

Grains and Legumes

• A 50kg bag of foreign rice has seen its price drop from around ₦88,000–₦90,000 in July to ₦83,000.
• The price of local rice has also decreased, from ₦70,000 to ₦65,000 per bag.
• White beans are currently priced at ₦130,000 per bag, while the brown variety is slightly higher at ₦135,000. For smaller purchases, a “tier” of white beans sells for ₦1,700–₦1,800, and brown beans for about ₦2,000.
• The price of white cassava flakes (garri) has fallen to ₦72,000 per bag, and a mudu (a small measuring container) of white garri now costs ₦700, down from ₦1,100.
• Yellow garri has also seen a reduction, with a bag now selling for ₦78,000–₦80,000 and a mudu for ₦900, down from ₦1,200.

Produce and Spices

The influx of fresh produce has had a dramatic effect on prices. According to the Chairman of the Tomato Sellers’ Association, Hamza Abubakar, produce is now more abundant, altering market dynamics.

• A bag of UTC tomatoes, which previously sold for ₦90,000–₦100,000, now costs ₦50,000.
• The price of Darika tomatoes has also plummeted from ₦65,000–₦70,000 to ₦35,000 per bag.
• A “paint rubber” (a common unit of measure) of tomatoes has dropped from ₦15,000 to ₦13,000.
• A basket of cayenne pepper now ranges from ₦4,000 to ₦5,500.
• A “paint rubber” of scotch bonnet pepper is priced at ₦6,000.

Mixed Trends

While most prices are falling, not all items are following the same trend. Onions, for example, remain expensive, with a bag selling for around ₦100,000. A basket of onions costs between ₦13,000 and ₦15,000. Similarly, soya beans have seen a slight increase, from ₦80,000 in July to ₦85,000 in August, a fluctuation a trader attributed to seasonal supply factors.

Traders are hopeful that these positive trends will continue. One trader, identified as Mohammed, expressed optimism, stating, “The new crops are coming in, and that’s why prices are falling. We expect more reductions in the coming weeks, especially for tomatoes, peppers, and some grains.”

This downward trend extends to other markets as well. At the Karu market in the FCT, a bag of Indian rice has dropped from ₦53,000 to ₦50,000, and Thai long-grain rice now sells for ₦68,000, down from ₦72,000.