In what many Nigerians are welcoming as a breath of fresh air, the cost of staple food items across the country is beginning to decline gradually, offering much-needed relief to households grappling with prolonged inflation and rising living costs.
A recent market survey conducted by The Nation in Lagos and corroborated by reports from several other urban centers, including Abuja, Kano, and Port Harcourt, shows a steady and noticeable drop in the prices of key food commodities.
These price adjustments come after months of relentless inflation that strained household budgets and pushed millions closer to food insecurity.
According to the survey, essential staples such as rice, maize, garri, vegetable oil, and beans, which had previously reached record-high prices, are now becoming more affordable for average Nigerians. Traders attribute the price drop to improved local harvests, better transportation conditions, and modest increases in food supply across markets.
Updated Market Prices for Major Food Items:
- Long-grain foreign rice (50kg): ₦82,000 – ₦85,000
Previous Price: ₦95,000 – ₦100,000 - Imported short-grain rice (50kg): ₦65,000 – ₦67,000
Previous Price: ₦80,000 – ₦90,000 - Local parboiled rice (50kg): ₦89,000
Previous Price: ₦90,000 – ₦100,000 - Millet (4L paint bucket): ₦4,000
Previous Price: ₦4,500 - Guinea corn (4L paint bucket): ₦4,000
Previous Price: ₦4,500 - Soya beans (4L paint bucket): ₦6,000
Previous Price: ₦6,500 - Wheat (4L paint bucket): ₦5,000
Previous Price: ₦5,500 - Yellow dry corn (4L paint bucket): ₦3,000
Previous Price: ₦3,500 - White dry corn (4L paint bucket): ₦2,500
Previous Price: ₦3,000 - Beans (D’Rica cup): ₦1,000 – ₦1,400
Previous Price: ₦2,000 – ₦2,500 - Yam (per tuber): ₦3,000
Previous Price: ₦7,000 - Yellow garri (paint bucket): ₦3,000
Previous Price: ₦4,000 - White garri (paint bucket): ₦2,500
Previous Price: ₦3,000 - Garri (60kg bag): ₦37,500 – ₦45,000
Previously higher - Tomatoes (big crate): ₦23,000 – ₦27,000
Previous High: Up to ₦120,000 during scarcity - Semovita/Semolina (10kg): ₦16,000
- Semovita/Semolina (5kg): ₦8,000
- Kings Vegetable Oil (25L): ₦82,000
Previous Price: ₦95,000 - Terra Vegetable Oil (25L): ₦80,000
- Fresh groundnut (4L paint bucket): ₦7,200
Previous Price: ₦7,500
Signs of Hope, But More Needed
Though the price drops are modest, many Nigerians see them as a positive signal that the economy might be stabilizing after months of volatility. However, food affordability remains a critical issue, as prices are still significantly higher than they were a year ago.
Market analysts caution that the current trend could reverse if not supported by consistent policies to boost local agricultural production, improve infrastructure, and reduce dependency on food imports.
For now, however, the gradual decline in prices brings a glimmer of hope to millions of households navigating tough economic times.
