Several traders and buyers in Lagos have expressed delight over the recent decrease in food prices.
In separate conversations on Sunday, they shared their thoughts on the development, expressing hopes that the reduction would be sustained.
A food vendor in Dopemu, Mr. Sunday Okwudiri, highlighted that the lower prices were advantageous to both sellers and customers, attributing the shift to a reduction in transport expenses.
“It’s true that many staple food items now cost less, and we are grateful. Items like rice, beans, and garri have seen noticeable reductions.
“Last December, a 50kg bag of rice sold for between ₦80,000 and ₦90,000, but now the same quantity is available for ₦70,000 to ₦75,000.
“We can’t pinpoint the exact cause of this drop, but one major factor is the decline in transportation costs.
“As traders often say, ‘the roads are now a bit easier.’ We just hope this trend continues,” Okwudiri stated.
Another merchant in Agege, Mr. John Nwabueze, confirmed the decrease, linking it to the ongoing harvest period for certain crops.
“The cost of rice and beans has been steadily falling since the start of the year.
“In early January, we sold a bag of rice for between ₦90,000 and ₦96,000, but now it’s going for ₦76,000.
“Beans have seen an even more significant drop. Back in November 2024, the price soared as high as ₦230,000 to ₦270,000 per bag, but now the same quantity is available for ₦80,000.
“We may not fully understand why prices are falling, but we’re certainly happy about it.
“We are also currently in the harvesting period for some of these crops,” Nwabueze added.
At the Amuwo market, another trader, Mrs. Judith Amen, noted a slight decrease in certain food prices.
“Well, rice has come down a little in price, though not by much. A high-quality 50kg bag now sells for ₦82,000, compared to the ₦90,000 to ₦95,000 it previously cost.
“The varieties selling for ₦75,000 are not premium, as they can become too soft when cooked.
“Beans have continued to fall in price since the end of last year, as it is currently in season.
“A 60kg sack of beans that once cost ₦300,000 is now between ₦90,000 and ₦150,000, depending on the variety.
“Garri has also seen a price cut, now selling for between ₦35,000 and ₦45,000 per bag, down from ₦60,000,” Amen explained.
Lilian Agunbiade, a Lagos resident, shared her excitement about being able to shop more affordably.
“I went to the market this weekend to restock my household and business supplies, and I noticed that many food items have indeed become cheaper.
“This decline in prices is a relief. A paint bucket of garri that cost ₦3,200 to ₦3,500 in January now goes for ₦2,000.
Vegetable oil has also reduced significantly. In December 2024, a 25-liter keg was over ₦100,000, but now it’s between ₦70,000 and ₦75,000, depending on the brand.
“Flour prices have also dropped slightly. A 50kg bag of all-purpose flour, which previously cost ₦62,000, now sells for ₦59,000.
“Overall, I noticed a small but noticeable reduction in prices across most food items.
“I’m pleased with the lower costs and hope this continues. Perhaps the naira gaining strength against the dollar has contributed to this drop,” Agunbiade suggested.
Another resident, Mrs. Eugenia Uloma from Egbeda, expressed doubt over the trend, fearing prices might rise again.
“Well, I wouldn’t say food prices have dropped significantly—it’s only a minor reduction.
“Some items have become cheaper because they are in season. Beans, for example, is currently being harvested, so its price naturally goes down around this time of the year.
“Crayfish is also cheaper. I used to buy a paint bucket for ₦11,000, but now it’s ₦8,000.
“If this decline is real, I just hope prices won’t shoot up again,” Uloma remarked.
