Amid the ongoing nationwide hunger protests, prices for certain perishable foods in Lagos have plummeted by about 50%. The protests, under the banner #EndBadGovernanceinNigeria, are set to conclude on August 10 and aim to highlight the economic struggles faced by Nigerians.
At the Ile-Epo food market in Alimosho/Agege, traders and buyers have observed a significant decrease in prices due to reduced market activity. Rabiu Aliu, a tomato trader, reported that the price of a 50kg basket of tomatoes has fallen from ₦80,000-₦100,000 to ₦40,000-₦50,000. Similarly, the cost of a 25kg basket has dropped from ₦30,000-₦40,000 to ₦18,000-₦19,000.
Another trader, Mrs. Mukit Afolabi, noted that the price of tomatoes had even been lower on the first day of the protest, with a 5kg basket costing ₦4,000 compared to ₦12,000 two weeks ago. However, Scotch bonnet peppers, or “rodo,” have seen a price increase due to supply issues, rising from ₦40,000 to ₦84,000 per bag.
Ibrahim Ahmed, a foodstuff trader, mentioned that prices for rice and beans have also decreased. A 50kg bag of short grain rice now costs ₦73,000, down from ₦83,000 last month, while a paint bucket of honey beans has dropped from ₦12,000 to ₦10,000.
Conversely, prices for groundnut oil and palm oil have surged. A 25-litre container of groundnut oil has increased from ₦38,000 to ₦60,000, and palm oil from ₦27,000 to ₦36,000.
Buyers like Mrs. Anuoluwa Olayinka have taken advantage of the reduced prices, purchasing as much as they can. The market’s quiet atmosphere has led traders to offer lower prices to mitigate their losses. Mrs. Ada Uzor remarked on the unpredictability of food prices, attributing the recent drop in some items to the ongoing protests.
News Editor