Nigeria Prices of food items rise across major markets in December

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Market Sellers

As Nigerians prepare for the Christmas and New Year celebrations, it may be a challenging period for households as prices of major food items has increased across major markets in Lagos State, Nigeria.

According to the latest Household Market Survey conducted by Nairalytics – the research arm of Nairametrics, prices of tomatoes, pepper, onions, dairy products, and beverages recorded yet another significant spike.

  • A big basket of round-shaped tomatoes spiked by 8.3% to sell for an average of N13,000, while a medium-sized basket now sells for an average of N8,000 – indicating 14.3% increase in two weeks.
  • Also, a big bag of dry onions recorded an 18.2% increase in price to sell for an average of N97,500.

In the latest survey, Nairalytics also found that the prices of dairy products and cocoa beverages such as Peak, Dano, Three Crown, and Loya milk, Milo, Ovaltine, and Bournvita all recorded significant increase in price across major markets in Lagos State.

This report contains information on items that witnessed price increase, price decrease, as well as information on special markets and market insights.

Items that witnessed price increase

  • big basket of Round shaped tomatoes initially sold for an average of N12,000 now sells for N13,000 – indicating 8.33% increase compared to the price recorded two weeks ago.
  • small basket of Round shaped tomatoes recorded 25% increase in price to sell for an average of N5,000 compared to N4,000 earlier recorded.
  • A 10kg bag of Mama Gold rice currently sells for an average of N4,800 as against N4,667 recorded earlier in the month of November.
  • A 50kg bag of Brown beans sold for an average of N42,000 two weeks ago, has increased by 2.98% to sell for an average of N43,250.
  • Also, a 50 kg bag of White beans now sells for an average of N42,750. This represents a 1.79% increase compared to N42,000 recorded two weeks ago.
  • A carton of 305g Indomie noodles now sells for an average of N3,263 as against an initial average of N3,150. This represents an increase of 3.57% in two weeks.
  • A bag of Ijebu garri that was initially sold for an average of N14,125 now sells for an average of N14,375 – representing an increase of 1.77%.
  • The price of a 5 litres gallon of locally made Vegetable oil rose by 1.48% to sell for an average of N3,425, while 25 litres gallon increased by 0.3% to sell for an average of N16,625.
  • A big bunch of Plantain now sells for an average of N550 as against an initial average of N525.
  • A 500g pack of Louis sugar initially sold for an average of N538, increased by 9.3% to sell for an average of N588.
  • Also, the price of a 500g pack of Golden Penny sugar increased by 10.7% to sell for an average of N388, as against an initial average of N350.
  • The price of a 400g tin of Peak powdered milk increased by 3.13% to sell for an average of N1,238, while a 900g tin of the same brand increased by 16.4% to sell for an average of N2,750 compared to an initial average of N2,363.
  • A 500g tin of Milo cocoa beverage that was initially sold for an average of N1,038 now sells for an average of N1,475 – representing an increase of 42.2%, while the price of 1kg size of the same brand increased by 15.9% to sell for an average of N2,463.
  • The price of a big bag of Pepper rose by 126.7% to sell for an average of N17,000 compared to an average of N7,500 recorded two weeks ago.
  • A big bag of Dry onions that was sold for an average of N82,500 two weeks ago, witnessed a further increase of 18.2% to sell for an average of N97,500
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