Relief for Nigerians as Cost of Food Drops Nationwide

There’s a glimmer of relief for Nigerian households as food prices begin to decline gradually but noticeably across major cities in the country.

A market survey conducted in Lagos and several other urban centers has revealed a steady fall in the prices of staple food items in recent weeks. This development is easing the burden of the high cost of living that has plagued many Nigerians amid the country’s ongoing economic challenges.

According to the survey, significant reductions have been observed in the prices of rice, garri, corn, beans, and tomatoes — essential components of the average Nigerian’s diet.

Here’s a breakdown of current market prices compared to previous rates:

1. Long-grain foreign rice (50kg) – N82,000 to N85,000 (previously N95,000 to N100,000)
2. Imported short-grain rice (50kg) – N65,000 to N67,000 (previously N80,000 to N90,000)
3. Local parboiled rice (50kg) – Around N89,000 (previously N90,000 to N100,000)
4. Millet (4L paint bucket) – N4,000 (previously N4,500)
5. Guinea corn (4L paint bucket) – N4,000 (previously N4,500)
6. Soya beans (4L paint bucket) – N6,000 (previously N6,500)
7. Wheat (4L paint bucket) – N5,000 (previously N5,500)
8. Yellow dry corn (4L paint bucket) – N3,000 (previously N3,500)
9. White dry corn (4L paint bucket) – N2,500 (previously N3,000)
10. Beans (D’Rica cup) – N1,000 to N1,400 (previously N2,000 to N2,500)
• Types include black-eyed beans, oloyin (honey beans), and olo
11. Yam (per tuber) – N3,000 (previously N7,000)
12. Yellow garri (paint bucket) – N3,000 (previously N4,000)
13. White garri (paint bucket) – N2,500 (previously N3,000)
14. Garri (60kg bag) – N37,500 to N45,000 (previously higher)
15. Tomatoes (big crate) – N23,000 to N27,000 (previously up to N120,000)

Staple Flours & Oils
16. Semovita/Semolina (10kg) – N16,000
17. Semovita/Semolina (5kg) – N8,000
18. Kings Vegetable Oil (25L) – N82,000 (previously up to N95,000)
19. Terra Vegetable Oil (25L) – N80,000
20. Fresh groundnut (4L paint bucket) – N7,200 (previously N7,500)

While these reductions do not yet represent a full economic turnaround, they provide some relief to struggling families and are a welcome change after months of relentless inflation. Analysts hope the trend will continue, especially as the rainy season approaches and affects supply chains.